While the US has been in a recession for quite a while and Texas joining the rest of the states in March, Lubbock has been fairly immune to the economic downturn. However, the latest figures from the Lubbock National Bank – Economic Index Report shows a 5.8% drop from a year ago.
The Lubbock Economic Index fell to 126.4 in August, down from 127.2 in July, and down 5.2% from the August 2008 LEI of 133.3. The Lubbock Economic Index has now declined for 11 consecutive months, and is down some 5.8% from its peak of 134.0 in September of 2008.
Source: News Radio 1420