Good news for Lubbock's economy - KCBD NewsChannel 11 Lubbock

5/27/10

Good news for Lubbock's economy

Posted:

LUBBOCK, TX (KCBD) - The Lubbock economy shows strong signs of recovery according to an April report on the economic index released on Thursday.

Consumer confidence is on the rise, construction permits are up and so are automobile sales.

"The great news on this report is we continue to show signs of complete recovery in this economy for Lubbock. What we are seeing is people have consumer confidence and that continues to rise and increase in with rise. You are seeing people go out and spend on large ticket items and that's usually a sign your economy is on the way up," says James Arnold with Lubbock National Bank.

Auto sales posted big numbers and are in positive territory for the first time since mid 2008. Sales of new and used cars increased by over 65 percent compared to April 2009.

Lubbock's unemployment rate remains at 5.9 percent, well below the national average at 9.9 percent.

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