Lubbock Economic Index down second consecutive month

For the second straight month, the Lubbock Economic Index sees a drop, falling about two-tenths of a percent for the month of February.

The Lubbock National Bank report shows the unemployment rate is 3.3 percent for February -- that's down slightly compare to the 3.4 percent rate in February of a year ago.

"All we're seeing now is the index stabilizing somewhat compared to what it's been doing the last year," said Chip Gilmour at Lubbock National Bank. "And the reason it's declined very slightly, is the fact that we see people as far as their disposable income is concerned, not spending quite as much money."

General real taxable spending is significantly down by 4.7 percent in February compared to 2105.