Comerica Bank’s Florida Index Maintains Strong Gains

Comerica Bank’s Florida Economic Activity Index improved in December, growing 1.5 percentage points to a level of 124.7. November’s index reading is 47 points, or 60 percent, above the index cyclical low of 78.0. The index averaged 117.9 in 2014, eight and eight-tenths points above the average for all of 2013. November’s index reading was 123.2.

“The Florida economy is showing solid, consistent growth as evidenced by the nine consecutive monthly gains in our Florida Economic Activity Index. All eight components of our Florida Index increased in December. This is the first time that we have seen across-the-board gains in all index components since May of 2014, demonstrating that Florida has reclaimed its place as a U.S. growth leader,” said Robert Dye, Chief Economist at Comerica Bank. “We expect housing markets to continue to improve through 2015 with ongoing gains in construction activity and firming prices. An improving U.S. economy and low gasoline prices are tailwinds for the Florida economy. However, the strong U.S. dollar will mitigate some of the gain expected from an improving global economy in 2015.”

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For a PDF version of the Florida Economic Activity Index click here: FloridaIndex_0215.

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