Comerica Bank’s Florida Economic Activity Index rebounded in January, jumping to a level of 116.5. The January index reading is 36 points, or 45 percent, above the index cyclical low of 80.6. The index averaged 110 in 2012, 11 points above the average for all of 2011.December’s index reading was revised up 0.2 percentage points from the originally published 113.2 to 113.4.
“After dipping in December, our Florida Index bounced back in January, reaching its highest level since August 2007. Index components were solidly positive for the month, with the exception of exports, which declined in January,” said Robert Dye, Chief Economist at Comerica Bank. “Increasing state sales tax revenue in recent months bodes well for ongoing economic momentum in Florida. Real estate markets are firming across the state, and will be an important source of strength in 2013.”
Click here for a PDF version of the Florida Economic Activity Index: FloridaIndex_0313.