Economic Forecast Looks Good for Panhandle

Happy State Bank is giving the Panhandle plenty to look forward to in 2013.

In a recent economic report, the bank shows growth in all directions.

"Good things were occuring in the regional economy and in the Amarillo economy in 2012. We've carried that momentum into 2013," Karr Ingham, Economist for Happy State Bank said.

That momentum includes increased general spending, increased employment and growth for the local housing market, construction industry and in auto sales.

Ingham predicts continued growth this year, and the upward trends are something others are noticing as well.

"The companies that we're working with and have worked with, I see, the phrase is cautious optimism. I think people are starting to see some lessening of the concerns that have been in place for the last couple of years," Buzz David, President and CEO of the Amarillo Economic Corporation said.

But according to Happy State Bank, there's still room for improvements.

"It's not spectacular growth, and it's not rapid growth right now but in some respects we really are sort of clicking on all cylinders. But we would like to see greater rates, I think, of employment growth. The unemployment rate has still not gotten as low as it was prior to the recession, and that may take a while yet," Ingham said.

He did say however, we're on the right track, and for 2013, it looks like we'll be staying there.