September 2026
Data Center Construction remains the main driver of Amarillo's economy.
Higher retail sales, wages, and Hotels/Motels get the most benefit from the activity on these build outs.
Retail Sales for the month are up 18% from 12 months ago. Year to Date Sales are up 13.5%.
There are less people working in Amarillo. The Household Survey shows a decrease of around 1,300 jobs. The Employers Survey shows a decrease of 530 jobs. Wages are up 12%. Total Panhandle employment stands at 207,042 (down 1,574 from last year). Amarillo's 3.7% unemployment is 4th lowest in Texas behind Midland, San Angelo, and Abilene. Wage stress is most felt among contractors in town as Data Center pay rates for skilled workers can be triple the market rate. Construction in Amarillo is steady. Taking out the Data Center projects, we see Medical, Residential, and roof repairs carrying this number. Residential Starts are up 76% from 12 months ago. Year to Date Starts are up 66%. Home prices are up 9% since last September. Higher Mortgage Rates could slow down some activity in higher priced homes.
New Car Sales are down 3% from last September, and Used Car Sales are down 6% over the same period. The Hotel/Motel Tax Collections are up 29%. Airline Boardings are up 2%. There are now 5 drilling rigs in the Panhandle with oil over $100. Natural Gas is at $2.92, down 6% from a year ago.
We need rain soon if we want to plant any wheat for next year. Prices are up 32%. Corn was harvested early due to dry conditions. Prices are over $5, up 26% from 12 months ago. Dairies are seeing lower milk prices- down 7% from last September, but remain profitable due to strong day old calf prices. The Cattle Market is softening. Feedyards, still seeing small profits, are up against higher input costs and lower Fat cattle prices, which are down 5% from a year ago.
Economic Pulse
| Economic Components | Current Month | Last Month | Last Year |
|---|---|---|---|
| Index (Base Jan. 88 @ 100) | 243.04 | 244.30 | 233.42 |
| Sales Tax Collections | $ 10,638,741 | $ 11,827,555 | $ 9,020,998 |
| Sales Tax Collection-YTD | $ 90,968,459 | $ 80,329,717 | $ 80,126,526 |
| New Vehicle Sales | 795 | 914 | 820 |
| Used Vehicle Sales | 1,553 | 1,889 | 1,658 |
| Airline Boardings | 36,352 | 40,718 | 35,608 |
| Hotel/Motel Receipt Tax | $ 1,320,800 | $ 1,415,758 | $ 1,021,136 |
| Population - Corporate Amarillo | 201,106 | 201,106 | 201,106 |
| Employment - CLF | 139,935 | 139,635 | 140,921 |
| Unemployment Rate | % 3.70 | % 3.90 | % 3.50 |
| Total Workers Employed (Household Survey) | 134,729 | 134,152 | 136,021 |
| Total Workers Employed (Employers Survey) | 130,700 | 130,177 | 131,228 |
| Average Weekly Wages | $ 1,203.00 | $ 1,102.00 | $ 1,071.00 |
| Gas Meters | 69,815 | 69,863 | 69,060 |
| Interest Rates: 30 Year Mortgage Rates | % 7.125 | % 6.750 | % 6.000 |
| Building Permits Dollar Amount | $ 28,319,244 | $ 43,784,914 | $ 311,345,804 |
| Year to Date Permits | $ 370,077,975 | $ 341,758,731 | $ 577,224,109 |
| Residential Starts | 69 | 53 | 39 |
| Year To Date Starts | 497 | 413 | 300 |
| Median House Sold Price | $ 270,000 | $ 275,000 | $ 247,500 |
| Drilling Rigs In Panhandle | 5 | 5 | 0 |
| Oil Price Per Barrel | $ 104.71 | $ 81.01 | $ 64.56 |
| Natural Gas | $ 2.93 | $ 2.72 | $ 3.12 |
| Wheat Per Bushel | $ 6.62 | $ 6.10 | $ 5.01 |
| Fed Cattle Per CWT | $ 223.45 | $ 232.00 | $ 237.00 |
| Corn Per Bushel | $ 5.41 | $ 4.69 | $ 4.29 |
| Cotton (Cents Per Pound) | $ 88.00 | $ 79.00 | $ 56.22 |
| Milk | $ 16.25 | $ 16.59 | $ 17.60 |
Prepare for the majestic dance of disclaimers!
This document was prepared by Amarillo National Bank on behalf of itself for distribution in Amarillo, Texas and is provided for informational purposes only. The information, opinions, estimates and forecasts contained herein relate to specific dates and are subject to change without notice due to market and other fluctuations. The information, opinions, estimates and forecasts contained in this document have been gathered or obtained from public sources believed to be accurate, complete and/or correct. The information and observations contained herein are solely statements of opinion and not statements of fact or recommendations to purchase, sell or make any other investment decisions.
Economic Pulse Charts
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2026 Economic Analysis
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2025 Economic Analysis
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2024 Economic Analysis
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2023 Economic Analysis
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