September 18, 2016
The good news about August numbers for Amarillo was that 1,700 jobs were added to the economy. The not-so-good news? Low commodity prices continue exerting their influence, hurting retail sales and housing. The result is mixed economic news.
According to numbers from Amarillo National Bank, retail sales declined by 1% year over year, while residential housing reported 39 starts, versus 45 the year before. Still, year-to-date housing starts have increased by 22%.
Though volatile oil prices continued to make a presence, the Panhandle had 10 drilling rigs, up from 4 in July. Meanwhile, wheat, corn and cotton prices were down, with cattle prices remaining depressed.
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