The city's economy continued to string
together solid retail sales as well as build investments
of all sorts, according to the latest economic index
issued this week. "Right now, based on what we've
seen, we're optimistic about 2007," said James Arnold,
marketing director for Lubbock National Bank. Amarillo-based
Ingham Economic Reporting, which publishes the monthly
index on behalf of LNB and the Lubbock Economic Development
Alliance, reported an 11.1 percent increase in auto sales
for November - 9.1 percent for the year. Also up - retail
tax rebates returned to the city based on sales. LNB/LEDA
reported a 1.1 percent increase for the month - 6.6 percent
for the year. Ingham reported a new value record for
all construction based on building permits issued from
January through November. Total valuations were pegged
at $418.6 million for the given period - a scant .2 percent
above the $417.9 million for the same period a year ago.
Home sales for the month and the year remained healthy.
LNB/LEDA reported an 8.9 percent increase in November
- a 3.4 percent increase for the year. However, permit
activity for future home construction was flat. Arnold
said LNB/LEDA will be watching those numbers in 2007.
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