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Retail spending spurs economic growth in WacoRetail spending spurs economic growth in Wacohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=11742015-04-28T07:45:00Z2015-04-28T00:00:00Z

WACO - The Greater Waco Economic Index surged into record territory in March, reflecting the creation of 2,000 new jobs in the past year and an unemployment rate that has dropped to 4.1 percent, according to Amarillo-based economist Karr Ingham.

The index surged to 118.3 in March from 118 in February and stood 5 percent higher than the 112.7 registered in March of last year.

Retail spending hit $173 million in March and $616 million for the quarter, with both figures exceeding showings in 2014.

Auto sales have been burning rubber for months, but they ground gears in March, slipping by 6.9 percent.

The construction sector continues to put up stout numbers. The value of building permits issued for commercial and industrial projects during the first quarter topped $76 million, which is the second highest ever recorded for a first quarter.

There were 42 permits issued to build new homes in March, a slight drop from the 44 in March a year earlier. However, the 114 permits issued during first quarter represent the highest first-quarter total since 2008.

Waco Tribune-Herald
Waco
Economy
http://www.wacotrib.com/news/business/greater_waco_economic_index/jobless-rate-drop-lifts-waco-economy/article_4a597020-0181-5faa-b3d4-6dc4fa06a3a8.htmlRead more at {Source}

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