Lubbock economy shows substantial growth

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Updated: 12/11/2013 8:08 pm
The city of Lubbock continues to improve economically. The economic index showed a growth of 6.7 percent from October 2012. 

New home permits year-to-date increased 39 percent since last year. The unemployment rate is down at 5.3 percent, a 7.2 percent decrease.
     
With just two more months left in the year, agriculture is predicted to stay solid. 

"It was a solid year for agriculture, particularly for irrigated crops," Senior Vice President of Lubbock National Bank James Arnold said. "It was spotty with dry land, you could look around and see some did really well, some did really  didn't do so well. Solid year for agriculture, I think that'll play itself out in numbers, but as you remember, when the drought happened, and ag took it on the chin, and we never really saw it play itself out in either retail sales or housing. So, it'll be interesting to see what a good crop year does for our economy."      

Lubbock has recorded 21 consecutive months of growth.
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