With just four days into the new year, today we got a look at what 2018 will look like for Amarillo.
This morning, Amarillo National Bank’s executive vice presidents discussed the City’s economic forecast.
Overall, Amarillo National Bank’s executive vice presidents said our outlook is looking pretty good.
They say they are optimistic our economy is going to hold steady in 2018, and that it is due to several “bright spots” from 2017.
For example, they told us good job growth, stable commodity prices and a return to oil and gas drilling, helped bolster a good start to 2018.
When it comes employment, William Ware, an Amarillo National Bank Executive Vice President, said last year we had some of the best numbers they have seen in years. Especially in manufacturing jobs.
He said that is going to be very beneficial this year.
Despite 2018 being overall great, Ware told us there are some issues in the months ahead.
“We’re a little concerned about how strong housing is going to be, It’s not going to be as strong as ’17, and construction could be down because we think retail, commercial construction is a little overbuilt. So we’ll be watching that,” said Ware.
Another industry on their mind this year is farming. Ware said they are a little worried about the drought because it is going to be a challenge for several farmers in our area.
Something you should keep an eye out for is tourism and conventions. Ware said there is going to be an increase this year; 24 more conventions in Amarillo in 2018 than we had in 2017.