Waco economic index rises for 15th straight monthWaco economic index rises for 15th straight monthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=72912013-05-28T08:06:00Z2013-05-28T00:00:00Z

WACO - People are buying new cars to drive to their new jobs and the Greater Waco Economic Index is reaping the benefits, showing improvement for the 15th straight month and nearing the all-time high recorded in August 2007, an Amarillo-based economist reported.

“The index surpassed 110 for the first time since January 2009, improving to 110.3 in April from 109.5 in March,” said Karr Ingham, who prepares a monthly economic snapshot of Waco and McLennan County for Central National Bank and the Tribune-Herald.

Waco’s jobless rate of 5.8 percent in April was the lowest for that month in four years. Highlights of the April report include a 518 percent increase from last year in the value of building permits issued, and a 12 percent jump in the sale of new cars.

Meanwhile, building permits valued at $55.9 million were issued in April, up from $9 million a year ago.

The lion’s share is because of continued work on Baylor University’s new $250 million football stadium, conversion of the old General Tire plant into a research center, and commercial projects such as the new $32 million Brazos Electric Power Cooperative headquarters.

Construction of new single-family homes year-to-date through April is 25.4 percent ahead of the first four months of last year.

Home sales were up in April, but the average price of a home sold dropped from $132,031 a year ago to $120,715 last month.

Read more at the Waco Tribune-Herald.

Waco Tribune-Herald
http://www.wacotrib.com/news/greater_waco/waco-economic-index-rises-for-th-straight-month/article_5207ee7d-be7a-51b2-a880-5a8414203578.htmlRead more at {Source}

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