Waco index performs well in February

WACO – The local economy continues to perform well thanks to robust retail sales, general improvement in the jobs picture and increased spending on automobiles and stays in lodging establishments, according to Amarillo-based economist Karr Ingham.

The Greater Waco Economic Index reached 112.8 in February, up from 112.7 in January and 107.9 in February a year earlier. In February of 2000, which is the base year of the index, it stood at 100.3.

Retail spending in February exceeded a quarter of a billion dollars, reaching $251 million, up 6.6 percent from February of 2013. In other areas, spending is up a hefty 7.7 percent compared to the first two months of 2013.

The number of people working in McLennan County grew by about 1,800 during the past year.

Permits for general construction projects were valued at $17.4 million in February, up from $15.6 million, while hotel/motel tax receipts climbed 19 percent to $170,760.

On the negative side, the number of existing homes sold in February slipped to 131 from 163 in February a year ago. The City of Waco issued only 22 permits to build single-family homes, a drop of nearly 60 percent.