Uptick for Wichita Falls economy

WICHITA FALLS – Economic statistics for Wichita Falls and the surrounding area seem to have taken an upturn during August.

Although year-to-date retail sales are off slightly compared with 2014, they are estimated to exceed $1 billion through August.

The retail sales estimate for August is 3.5 percent higher in the month-to-month comparison with 2014.

The number of closings in the local real estate market is higher by 6.6 percent month-to-month and by just over 11 percent year-to-date. 

The average sales price for closings during August is higher by more than 25 percent while the average price year-to-date is just over 4 percent lower compared with 2014.

The unemployment rate, however, continues to decline, standing at 4.2 percent as of the end of August.

While not exhibiting improvement across all reporting sectors, the local economy has begun to reveal sufficient improvement to generate a slight boost in the economic index, which now stands at 105.6.