Good news for Lubbock's economic index

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Updated: 7/02/2013 12:30 am
The arrow is still pointing up for Lubbock's economic index. The number improved once again in May, up 8.3 percent from a year ago. James Arnold is the Lubbock National Bank vice president.

"Some of the components that gets us to that number, we'll start with unemployment at 5.2 percent, 5.3 through May. The year to date average is 5.2. We continue to see a shrinkage in terms of that number, getting closer to the four percent and 4.5 percent." He said.

Housing a primary component of the index, home sale prices up 6.6 percent for the year and home sales up 28 percent. Home permits also up by 58 percent during the month of May.

Retail sales had a solid month, expanding 2.7 percent from this time last year.

Arnold said the one area to watch, construction permits. New construction permits went down by 58 percent in May.
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