McAllen Economic Index Declines for Fourth Straight Month

The McAllen Economic Index declined for the fourth straight month in February 2018, falling to 184.3. The index stood at 184.7 in January 2018. The decline continues what the McAllen Chamber of Commerce called “a general pattern of weakness in place since early 2017.” The index peaked at 188.3 in December 2016.

Though home sales activity continues at a record pace and the annual job-growth rate was 2%, general spending remained flat, while real spending is down by approximately 2%. The index is also being hurt by hotel/motel activity, which was down by 2% in February, and more than 14% during the first two months of 2018.

However, Eduardo Lopez with the chamber indicated that things are looking up, with March likely to show improvement.

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