Economic Index shows continued growth of Lubbock economy - KCBD NewsChannel 11 Lubbock

Economic Index shows continued growth of Lubbock economy

LUBBOCK, TX (KCBD) - The Lubbock economy continues to grow as the June Economic Index hit 141.6, one point higher than May, which is the largest month-to-month gain this year.

Vehicle sales are up 12% from this time last year.

Construction activity has increased with $264 million in permits being issued during the first six months of 2014, which is the second highest amount on record.

Lubbock saw a spike in new home permits in June, but the number is still down overall, but James Arnold of Lubbock National Bank said there's a reason for the lower number.

"We're comparing it to 2013, which is probably one of the best housing years we've had in a long time. So, when you compare it against last year, it looks like we're still off. It's still a healthy number," Arnold explained.

Home sales also appear lower when compared to 2013.

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