Comerica Bank’s Florida Economic Activity Index increased marginally in April, up 0.3 percent to a level of 109.8. The April reading is 29 points, or 36 percent, above the index cyclical low of 80.6. Year-to-date the index has averaged 108, nine points above the average for all of 2011.
“Florida is making progress in its recovery, as shown by the slight uptick in our Florida Economic Activity Index for April,” said Robert Dye, Chief Economist at Comerica Bank. “Increased tourism activity has helped to stabilize the state economy. However, federal spending cuts and a weaker global macroeconomic environment pose downside risk for Florida over the remainder of the year. That said, economic uncertainty in Europe is making Florida look like a good choice for international investors.”