Comerica Bank’s Florida Economic Activity Index grew 0.4 percentage points in February, to a level of 117.7. February’s index reading is 37 points, or 46 percent, above the index cyclical low of 80.6. The index averaged 115 in 2013, 10 points above the average for all of 2012. January’s index reading was revised slightly up from 117.2 to 117.3.
“Our Florida Economic Activity Index edged up slightly in February, supported by stronger-than-expected payroll job growth for the month. Payroll employment in Florida increased by a solid 0.5 percent in February, and the rate of monthly job growth has been trending up. As real estate markets firm up, we expect to see ongoing job growth in Florida this year,” said Robert Dye, Chief Economist at Comerica Bank. “The unusually cold and snowy weather experienced in much of the Midwest this winter may be a positive for Florida, helping to reinforce recent gains in real estate markets.”
For a PDF version of the Florida Economic Activity Index click here: FloridaIndex_0414.