Lubbock Economic Index for January Falls Slightly

The Lubbock Economic Index has declined yet again, but not all sectors of the local economy are doing poorly. The LEI dropped to 124.0, down from December 2010’s 124.1 and down half a percent from January 2010.

Construction for last January is the lowest total since 1998, with its $12.9 million in permit valuations, bringing the total down by nearly 70 percent compared to January 2010, and housing construction numbers are down as well. Only 41 single-family residence construction permits were issued.

On the brighter side, taxable retail spending was up 3.3 percent compared to last January, and real auto spending in Lubbock has risen from January 2010, which was down 28 percent compared to the prior year.

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