Odessa economy gains momentum heading into 2018

​​ODESSA – The Odessa Economic Index​ (OEI) increased through December 2017, ending the year at 114.9. 

The result is above the 113.0 score reported in the prior month. 

According to West Texas economist Karr Ingham, the OEI increased each month of 2017, and “the Odessa economy is clearly moving into 2018 with considerable growth momentum.”

Ingham pointed out that the economic recovery in 2017 followed an “oil-induced contraction” that lasted 21 months. 

Over that time, the OEI had declined by 18.6 percent. 

Meanwhile, all components of the index posted strong annual improvement in 2017.

Though total construction and home building fell in December 2017, other index components increased.