The Odessa, TX Economic Index increased to 207.2 in September 2017, up from the 203.9 reported in August 2017, and way up from September 2016’s OEI of 189.3. The gains were impressive, noted West Texas economist Karr Ingham, with general spending up by 40% year over year, auto spending up by 30% and construction, home building and existing home sales up by 40% in Q3 2017. “Jobs are now steadily being added to the Odessa economy, and the unemployment rate is sharply lower, compared to year-ago levels,” Ingham noted.

Also increasing was the Texas Permian Basin rig count, nearly double the count from a year ago, at 316 during September. Though drilling permits and rig numbers have been declining, Ingham didn’t see the minor decrease as an issue. “The Odessa general economy has enjoyed an impressive recovery over the course of 2017 thus far, with more to come,” he said.

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