Comerica Bank’s Florida Economic Activity Index increased 2.1 percentage points in November, to a level of 118.0. November’s index reading is 37 points, or 46 percent, above the index cyclical low of 80.6. The index averaged 105 in 2012, 10 points above the average for all of 2011. October’s index reading was 115.9.
“Our Florida Index continued its upward track in November, advancing for the third consecutive month. Job growth is picking up in Florida and that is a very positive signal. Florida payroll jobs were up by 2.5 percent in November over the previous 12 months, well above the U.S. average gain of 1.7 percent,” said Robert Dye, Chief Economist at Comerica Bank. “Miami house prices were up 16.5 percent in November over the previous 12 months. Tampa house prices were up 15.7 percent. Tourism-related data remains strong for the Sunshine State.”
For a PDF version of the Florida Economic Activity Index click here: FloridaIndex_0114.