Comerica Bank’s Florida Economic Activity Index rose 3.1 percentage points in September, to a level of 111.6. The September index reading is 31 points, or 38 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.
“After trending sideways for three months, our Florida Index surged higher in September, climbing more than three points. Most of the index components were positive for the month. Beyond that, building permits spiked. We expect to see some give back of the September building permits spike in coming months,” said Robert Dye, Chief Economist at Comerica Bank. “Less positive were flat payrolls in September. We need to see stronger job creation in Florida before we can say that the state’s economy is accelerating meaningfully.”
Click here for a PDF version of the Florida Economic Activity Index: FloridaIndex_1112.