Midland and Odessa's economies remained in expansion mode as 2018 came to an end, with consumer spending and housing construction hitting record highs.
"The Midland-Odessa economy had a very good year," said Karr Ingham, the Amarillo economist who prepares the Midland-Odessa Regional Economic Index for the Midland Development.
The index, which surpassed its previous record high in April, ended the year up 16.9 percent compared to the end of 2017. It was the 26th consecutive monthly increase that has seen the index climb 37 percent. Ingram said he saw a slowing in year-over-year growth as the year progressed -- that 16.9 percent growth was down from a 2018 high of 21.6 percent in May. He said fourth-quarter growth slumped to an annualized 11.1 percent.
