July 2026
July was a quiet month for Amarillo's economy.
Strong retail sales and higher wages were offset by less people working and volatile commodity prices.
Retail Sales are up 14% from 12 months ago. Year to Date Sales are up 12% from last year. New Car Sales are down 52% and Used Car Sales are up 93% from last July.
Airline Boardings are down 3% from last Summer and Hotel/Motel Tax Collections are up 28% due to temporary Data Center workers.
The Household Survey shows a decrease of 1,440 jobs from last July. The Employer's Survey shows the number of people working is flat. The Unemployment Rate ticked up to 4.1%. Area Employee Wages are up 12% from a year ago.
Mortgage Rates have ticked up due to higher Treasury Rates.There were 90 Residential Starts this month compared to 40 last July. Year to Date Starts are at 354 compared to 204 in 2025. Home Prices are up 9%. Total Construction is up 25% from 2025. Houses, Data Center activity and growth in our Medical District are driving these numbers.
There are currently only 2 drilling rigs in the Panhandle. Oil Price swings due to Iran are hard to keep up with. Prices are 20% higher than 12 months ago. Natural Gas is below $3, down 18% from a year ago, due to giant over supply and mild temperatures.
Wheat prices are flat from a year ago. Cotton is up 20%. Corn should be ok this year, but is below its long run price at $4.56. Dairies are profitable, even if their milk sales are breaking even. The cattle market's run continues, and prices are up 10% from last July.
Economic Pulse
| Economic Components | Current Month | Last Month | Last Year |
|---|---|---|---|
| Index (Base Jan. 88 @ 100) | 241.80 | 245.86 | 225.97 |
| Sales Tax Collections | $ 9,695,187 | $ 10,020,371 | $ 8,514,042 |
| Sales Tax Collection-YTD | $ 68,502,161 | $ 58,806,973 | $ 61,285,493 |
| New Vehicle Sales | 724 | 776 | 1,507 |
| Used Vehicle Sales | 1,437 | 1,813 | 743 |
| Airline Boardings | 38,891 | 37,561 | 40,298 |
| Hotel/Motel Receipt Tax | $ 1,100,609 | $ 972,738 | $ 856,804 |
| Population - Corporate Amarillo | 201,106 | 201,106 | 201,106 |
| Employment - CLF | 139,803 | 139,998 | 139,993 |
| Unemployment Rate | % 4.10 | % 3.50 | % 3.20 |
| Total Workers Employed (Household Survey) | 134,136 | 135,147 | 135,576 |
| Total Workers Employed (Employers Survey) | 131,400 | 131,500 | 131,372 |
| Average Weekly Wages | $ 1,203.00 | $ 1,102.00 | $ 1,071.00 |
| Gas Meters | 69,934 | 70,022 | 69,871 |
| Interest Rates: 30 Year Mortgage Rates | % 6.625 | % 6.375 | % 6.500 |
| Building Permits Dollar Amount | $ 47,773,814 | $ 59,086,663 | $ 66,216,378 |
| Year to Date Permits | $ 297,439,267 | $ 251,592,602 | $ 236,026,51 |
| Residential Starts | 90 | 68 | 40 |
| Year To Date Starts | 354 | 267 | 204 |
| Median House Sold Price | $ 290,000 | $ 265,000 | $ 265,000 |
| Drilling Rigs In Panhandle | 2 | 3 | 0 |
| Oil Price Per Barrel | $ 79.26 | $ 80.54 | $ 66.15 |
| Natural Gas | $ 2.91 | $ 3.11 | $ 3.54 |
| Wheat Per Bushel | $ 6.39 | $ 5.83 | $ 6.35 |
| Fed Cattle Per CWT | $ 250.00 | $ 257.00 | $ 228.00 |
| Corn Per Bushel | $ 4.56 | $ 4.66 | $ 4.06 |
| Cotton (Cents Per Pound) | $ 76.00 | $ 69.00 | $ 63.50 |
| Milk | $ 15.73 | $ 15.98 | $ 17.50 |
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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