Midland-Odessa economic growth gains momentum at year’s mid-point
16 Aug 2017
Author: Midland Reporter - Telegram
Midland and Odessa’s economies are entering the second half of 2017 with significant upward momentum, shaking off the effects of falling crude oil prices.
At the end of the second quarter, the Midland-Odessa Regional Economic Index marked the eight-month anniversary of its current recovery with its first year-over-year increase in two years.
The June index was 1 percent higher than June 2016, the first year-over-year increase since “July 2015, when the index was on the way down,” said Karr Ingham, the Amarillo economist who prepares the index for the Midland Development Corp.
“The 2.9 point increase in June (from May) marks the largest monthly increase since November 2011,” he said.