Comerica Bank’s Florida Economic Activity Index grew 1.5 percentage points in December, to a level of 119.5. December’s index reading is 39 points, or 48 percent, above the index cyclical low of 80.6. The index averaged 115 in 2013, 10 points above the average for all of 2012. November’s index reading was unchanged at 118.0.
“Our Florida Index improved for the fourth consecutive month in December. Payroll job growth for the Sunshine State was modest but steady through the second half of 2013. Tourism-related data has been strong. Both hotel occupancy and enplanements were positive contributors to our Florida index in December,” said Robert Dye, Chief Economist at Comerica Bank. “The reflation of house prices through 2013 was a positive development for the state. We expect that to continue through 2014, supporting all aspects of local real estate markets and consumer spending.”
For a PDF version of the Florida Economic Activity Index click here: FloridaIndex_0214.