Economic index shows Lubbock still in recession - KCBD NewsChannel 11 Lubbock

10/23/09

Economic index shows Lubbock still in recession

LUBBOCK, TX (KCBD) - Local experts say Lubbock was last to come into the recession, and will hopefully be one of the first out of it.

"Is our economy getting fixed, probably, when are we going to get well," asked James Arnold with Lubbock National Bank. 

On Friday, the Lubbock Economic Index was released for the month of September and most sectors of the Lubbock economy point to an ongoing recession. The index fell for the 12th straight month in September, down seven percent from September 2008. The index also shows consumer spending is also down by nearly five percent, with retail sales falling in to negative numbers.

This news comes just weeks after numbers show Lubbock has the lowest unemployment rate in the state of Texas.

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