Comerica Bank’s Florida Economic Activity Index improved 1.3 percentage points in April to a level of 154.2. April’s index reading is 76 points, or 97 percent, above the index cyclical low of 78.1. The index averaged 138.0 in 2015, twenty and three-tenths points above the average for all of 2014. March’s index reading was 152.9.
“The Comerica Florida Economic Activity Index increased again in April. This marks the 25th consecutive month that the Florida index has either increased or stayed constant. Payroll job growth increased in Florida in April, as it has for every month since June 2011. Florida remains a growth leader in job creation. Over the year ending in April, Florida payroll employment was up by 3.2 percent, well above the U.S. average of 1.9 percent. Other index components were mostly positive in April, including house prices,” said Robert Dye, Chief Economist at Comerica Bank. “A surge in supply in the South Florida condo market may weigh on pricing in the second half of this year.”
For a PDF version of the Florida Economic Activity Index click here: FloridaIndex_0616.