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

Economic Analysis

December 2014

Amarillo’s Economic Pulse declined this month with a 2.5% drop in retail sales and 155 fewer workers employed. Year to date retail sales are up only 2.2% vs. 5% in Lubbock.

Construction is about flat with last year both in total permits and number of new housing starts. The biggest permit was $14 million for a new Sam’s Club. Year to date housing starts are down 7%, while dollar permits are up 10%.

New and used vehicle sales are about flat, but airline boardings are down 5.7%. The motel tax is flat with last year.

The sharp drop in oil prices is beginning to affect drilling rigs, which are down 5 from last year. This decline will ripple through the economy over the next 12 months. Meanwhile, natural gas prices are starting to decline.

Wheat and corn prices turned up and the fall harvest helped the Panhandle economy, however cotton continues to be below last year and last month. Cattle are still doing well, even though their prices dropped slightly this month as did milk prices.

Our leading index has turned negative forecasting 4 months out. We will have our annual economic forecast in early January where we review all the components of the Amarillo Area Economy.

 

December 2014Current MonthLast MonthLast Year

Index*

208.26

231.48

208.91

Sales Tax Collections

$5,081,222

$6,555,656

$5,216,185

Sales Tax Collection-YTD

$72,301,582

$66,720,360

$70,744,051

New Vehicle Sales

943

1,220

 1,008

Used Vehicle Sales

2,479

3,196

2,514

Vehicle Registrations (Stickers)

13,670

20,668

14,476

Airline Boardings

28,188

32,832

29,895

Hotel/Motel Receipt Tax

$483,043

$482,404

$480,653

Population - Corporate Amarillo

191,514

191,514

191,514

Employment - CLF

133,800

133,800

134,064

Unemployment Rate

3.30%

3.50%

4.10%

Total Workers Employed

129,430

129,100

129,545

Average Weekly Wages

$783.18

$783.18

$796.10

Gas

67,784

61,954

68,157

Water Connection

69,176

69,176

68,727

Interest Rates: 30 Year Mortgage Rates

4.25%

4.13%

4.75%

Building Permits Dollar Amount

$36,667,178

$60,951,956

$37,924,996

Year to Date Permits

$508,665,950

$472,073,741

$460,156,101

Residential Starts

39

26

38

Year To Date Starts

406

367

436

Median House Sold Price

$143,000

$145,000

$137,000

Drilling Rigs In Panhandle

71

68

76

Oil Price Per Barrel

$57.00

$77.90

$90.73

Natural Gas

$3.65

$3.80

$3.50

Wheat Per Bushel

$5.57

$5.48

$7.05

Fed Cattle Per CWT

$163.00

$168.00

$132.00

Corn Per Bushel

$3.97

$3.71

$4.48

Cotton (Cents Per Pound)

$65.20

$67.90

$78.60

Milk

$20.60

$22.80

$19.35

*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