Lubbock economy still recovering from recession - KCBD NewsChannel 11 Lubbock

Lubbock economy still recovering from recession

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LUBBOCK, TX (KCBD) - The recession is over but our local economy is still recovering.

On Tuesday, Lubbock National Bank reports the economic index is down more than one percent from last year and consumer spending is down one point five percent.

The number of single-family residence permits shot up to 137 in August.  It's the first time since September 2008 that the number of monthly permits rose above 100.

James Arnold of Lubbock National Bank says "construction and home sales are steady and holding their own. Given the optimism we have in the cotton market right now and where we are with agriculture, we see a very successful positive end in the economy in 2010."

Lubbock remains the third lowest unemployment rate in Texas.

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