Welcome, Guest
Please let us know how we can help.

Economic Analysis

July 2015

Weak employment continues to drag on Amarillo’s economy.

The Household Survey shows a decline of 1,600 workers from a year ago. The Employers Survey shows an increase of 800 workers. An increase of 1,400 jobs in Leisure & Hospitality was offset by losses of 500 in Manufacturing and 300 in Professional & Business. 

Retail sales are up 1% from 12 months ago and year to date are up 3%. New car sales are down 20% and used car sales are up 4%.

Airlines have pulled flights from Amarillo and boardings are down 16%. The Hotel/Motel tax is up 3%.

Construction is down from last year as this year has seen more rain and we are also comparing to last year which was still seeing a bump from the hail storm in 2013. Residential starts are down 26% even though 30 year mortgage rates are still at 4.25%. The average home selling price is up 8% from last year.

A slump in energy has come back. There are 46 less drilling rigs in the Panhandle compared to 2014. Oil prices are down 46% and natural gas prices are down 39%.

Agriculture is seeing a good summer moisture-wise, but prices are low. Corn prices are down 17%, cotton is down 20% and wheat is down 28%. Feedyards are reporting losses around $200 per head with Fat Cattle at $150. Dairy’s margins are shrinking as the price of milk is down 28%.

  

July 2015Current MonthLast MonthLast Year

Index*

188.08

 196.10

230.32

Sales Tax Collections

$6,119,241

$6,179,240

$6,064,608

Sales Tax Collection-YTD

$43,328,179

$37,708,938

$42,110,417

New Vehicle Sales

1,101

907

1,372

Used Vehicle Sales

3,273

3,069

3,157

Vehicle Registrations (Stickers)

20,172

21,304

21,145

Airline Boardings

29,499

27,130

34,945

Hotel/Motel Receipt Tax

$560,480

$502,813

$543,685

Population - Corporate Amarillo

191,514

191,514

191,514

Employment - CLF

129,900

131,000

134,322

Unemployment Rate

4.20%

2.90%

4.00%

Total Workers Employed

125,700

127,100

128,961

Average Weekly Wages

$779.35

$779.35

$800.51

Gas

62,515

62,446

68,902

Water Connection

69,175

69,367

68,906

Interest Rates: 30 Year Mortgage Rates

4.25%

4.25%

4.38%

Building Permits Dollar Amount

$31,865,923

$22,203,936

$32,217,704

Year to Date Permits

$239,252,822

$207,458,799

$289,970,640

Residential Starts

25

39

34

Year To Date Starts

183

128

243

Median House Sold Price

$159,000

$160,000

$147,000

Drilling Rigs In Panhandle

 17

 18

63

Oil Price Per Barrel

$56.04

$55.55

$102.09

Natural Gas

$2.86

$3.01

$4.66

Wheat Per Bushel

$4.97

$4.87

$6.94

Fed Cattle Per CWT

$150.00

$154.00

$155.00

Corn Per Bushel

$3.94

$3.91

$4.74

Cotton (Cents Per Pound)

$64.10

$62.40

$79.90

Milk

$15.70

$15.00

$21.80

 


 

 

*Base-100, January 1988
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.

Personalization Settings

x

Welcome

Amarillo National Bank would like to personalize your banking experience. Please enter your first name below.

This level of personalization will not lead to the sale of your name or leak your identity. The information you provide will only be stored on your computer and will not be transferred to the web server.

Please do not remind again