January 2015 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone

Size: px
Start display at page:

Download "January 2015 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone"

Transcription

1 Southwest Florida Regional Economic Indicators January 215 Lutgert College Of Business 151 FGCU Blvd. South Fort Myers, FL Phone

2 Table of Contents Introduction: Regional and National Background... 3 Airport Passenger Activity... 7 Chart 1: SW Florida International Passenger Activity... 7 Chart 2: Sarasota Airport Passenger Activity... 8 Chart 3: Punta Gorda Airport Passenger Activity... 8 Tourist Tax Revenues... 9 Chart 4: Tourist Tax Revenues for the Coastal Counties... 9 Chart 5: Coastal County Tourist Tax Revenues, SA... 1 Single-Family Building Permits... 1 Chart 6: Single-Family Building Permits for Lee County Chart 7: Single-Family Building Permits for Collier County Chart 8: Single-Family Building Permits for Charlotte County Taxable Sales Chart 9: Taxable Sales for 5 County Region Chart 1: Taxable Sales for Coastal Counties Chart 11: Taxable Sales for Inland Counties Workforce Labor Force, Employment and Unemployment Chart 12: Lee County Labor Force and Unemployment Chart 13: Collier County Labor Force and Unemployment Chart 14: Charlotte County Labor Force and Unemployment Chart 15: Hendry County Labor Force and Unemployment Chart 16: Glades County Labor Force and Unemployment Sales of Existing Single family Homes and Median Sales Prices Chart 17: Existing Single-Family Home Sales for Lee County Chart 18: Existing Single-Family Home Sales for Collier County Chart 19: Existing Single-Family Home Sales for Charlotte County Consumer Sentiment Index... 2 Chart 2: Consumer Sentiment Index... 2 Consumer Price Index Chart 21: CPI Annual Percentage Change Chart 22: Miami-Fort Lauderdale CPI Component Percentage Change Population Chart 23: Coastal Counties Population Growth 199 to Chart 24: Inland Counties Population Growth 199 to Chart 25: Population Projections by County

3 Dr. Gary Jackson, Director, Regional Economic Research Institute Phone: Dr. Chris Wesley, Associate Director, Regional Economic Research Institute Phone: Mr. Steven Scheff, Business Analyst, Regional Economic Research Institute Phone: Mr. Jim Breitbach, Technical Support, Regional Economic Research Institute Phone: Copyright 214 FGCU - All rights reserved. Introduction: Regional and National Background The Southwest Florida and U.S. economies are showing strong growth but there are concerns that Europe, China, and Japan are experiencing slow economic growth reducing global demand for goods and services. The European Central Bank (ECB) announced a major new program to purchase government bonds (Quantitative Easing) totaling 1.1 trillion Euros or approximately $1.3 trillion in U.S. dollars to begin in March 215 and continue until June of 216. Europe s economy continues to show slow growth and there is a concern that deflation may create additional problems. The dollar continues to appreciate against the Euro given the uncertainty in Europe. This is making U.S. exports more expensive and lowering the cost of U.S. imports. Lower oil prices are providing a boost to the U.S. economy by lowering production costs and freeing household income but creating a slowdown in the oil exploration industries and states. The fourth quarter U.S. real GDP estimate for growth was 2.6 percent. The third quarter real GDP grow more rapidly at 5. percent, faster than the second quarter growth rate of 4.6 percent. The fourth quarter increase reflects positive contributions from personal consumption expenditures, private inventory investment, exports, nonresidential and residential fixed investment. Rapid GDP growth along with lower unemployment rates will shorten the length of time over which the Federal Reserve can maintain historically low interest rates. The regional economy continues to show improvement. Seasonally-adjusted regional taxable sales were up nine percent ($158.1 million) in October 214 over October 213. Seasonally-adjusted November 214 total tourist tax revenues for the three coastal counties increased by 16 percent over November 213. Passenger activity for the three Southwest Florida airports grew by seven percent between November 213 and November 214, and was up by seven percent year-to-date over the first 11 months of 213. Single-family home sales for the three coastal counties were up 16 percent in December 214, compared to December 213, and showed a two-percent increase for all of 214 compared to 213. The seasonally-adjusted unemployment rate for the five-county region declined to 5.5 percent in December 214 from 5.7 percent in November. Florida s unemployment rate dropped to 5.6 percent from 5.8 percent in November 214, while the national unemployment rate decreased to 5.6 percent in December 214 from 5.8 percent in the previous month. The number of long-term unemployed (those jobless for 27 weeks or longer) remained at 2.8 million, which is 31.9 percent of all unemployed. The December Bureau of Labor Statistics Establishment Survey showed that national nonfarm payroll employment increased by 252, for the month, lower than the revised increase of 353, in November. The December employment increases included 52, in professional and business services, 3

4 48, in education and health services, 48, in construction, 36, in leisure and hospitality, 17, in manufacturing, 12, in government, 1, in financial activities, 1, in wholesale trade, 7,7 in retail trade, 3,1 in transportation and warehousing, 2, in other services, and 2, in information (media). The national consumer price index (CPI) increased by.8 percent from December 213 to December 214. The shelter index (rental equivalence measure for homeowner costs) has risen 2.9 percent over the last 12 months. Medical care services increased 2.4 percent, and energy prices decreased 1.6 percent. Core inflation (all items less food and energy) increased by 1.6 percent. The closest CPI in Florida is for the Miami-Ft. Lauderdale area, which saw a 1.4 percent increase from December 213 to December 214. National housing prices increased 4.3 percent for the 2-city composite S & P Case- Shiller Home Price Index in the 12 months ending November 214. The latest statement of the Federal Reserve Open Market Committee (FOMC) was issued on January 28th. Its key points included the following: Economic activity continues to expand at a solid pace, with further improvement in labor market conditions; Household spending is rising moderately, recent declines in energy prices have boosted household purchasing power; Inflation has declined further below the Committee s longer-run objective, largely reflecting declines in energy prices and survey-based measures of longer-term inflation expectations have remained stable; The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and mortgage-backed securities, and will roll over maturing Treasury securities to help maintain accommodative financial conditions; When it begins to remove policy accommodation, the Committee will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer-run. The next FOMC meeting is scheduled for March 17-18, 215. The FOMC released its latest quarterly forecast for real GDP and the unemployment rate on December 17, 214, as shown in the following "box and whiskers" charts. The red boxes are the central tendency forecast, and the full range of uncertainty is reflected in the whiskers, or vertical lines. The December forecast was similar to the September forecast but reflecting the faster growth and lower unemployment observed during the third quarter of 214. The GDP chart shows that recovery started in 29, but it is expected to be a few more years before the economy returns to a normal long-run trend ( LR ). For 214, the overall projected range is 2.3 to 2.5 percent with a central tendency range of 2.3 to 2.4 percent. For 215, the overall projected range is 2.1 to 3.2 percent with a central tendency range of 2.6 to 3. percent. For 216, the overall projected range is 2.1 to 3. percent with a central tendency range of 2.5 to 3. percent. For 217, the overall projected range is 2. to 2.7 percent with a central tendency range of 2.3 to 2.5 percent. The long-run trend for Real GDP has a range of 1.8 to 2.7 percent growth with a central tendency range of 2. to 2.3 percent. 4

5 Real GDP growth rates are based on the change from the fourth quarter of one year to the fourth quarter of the next year. Source: Federal Reserve Open Market Committee Meeting Statement, December 17, 214. As shown in the following chart, the unemployment rate has continued to decline. For 214, the estimated range for the unemployment rate is 5.7 to 5.8 percent with a central tendency of 5.8 percent. For 215, the projected range for the unemployment rate is 5. to 5.5 percent with a central tendency range of 5.2 to 5.3 percent. For 216, the projected range for the unemployment rate is 4.9 to 5.4 percent with a central tendency range of 5. to 5.2 percent. For 217, the projected range for the unemployment rate is 4.7 to 5.7 percent with a central tendency range of 4.9 to 5.3 percent. Long-run unemployment is expected to be in a range of 5. to 5.8 percent with a central tendency of 5.2 to 5.5 percent. The projections for unemployment are for the fourth quarter of each year. 5

6 Source: Federal Reserve Open Market Committee Meeting Statement, September 17, 214. RERI extends its sincere thanks and appreciation to all the individuals and organizations that have helped to bring together the regional information for this report. These include the Southwest Florida Regional Planning Council, the Economic Development Organizations of Charlotte, Collier, and Lee Counties, the Convention and Visitors Bureaus of Collier and Lee Counties, the regional airport authorities, the REALTORS of Lee and Collier County, the University of Florida Survey Research Center, and the county and city permit offices. 6

7 Arrivals plus Departures - Thousands Airport Passenger Activity Airport passenger activity is the sum of arrivals and departures for Southwest Florida International (RSW), Sarasota Bradenton International (SRQ), and Punta Gorda (PGD) airports. Peak seasonal activity occurs in February, March, and April, with significantly lower activity in the summer months. Charts 1, 2, and 3 illustrate the seasonality of airport passenger traffic and the changes from year to year. Passenger activity for the three Southwest Florida airports increased to 819,846 in November 214, up 29 percent from October 214, and a seven-percent increase over November 213. Chart 1 shows SW Florida International Airport passenger activity of 669,567 in November 214, five percent above November 213. Sarasota Bradenton Airport activity improved to 97,153 passengers in November 214, six-percent higher than November 213, as shown in Chart 2. Punta Gorda passenger activity rose to 53,126 in November 214, up 36 percent over November 213, as shown in Chart 3. For the first 11 months of 214, cumulative passenger activity for the three airports totaled 8,862,431, an increase of 597,35 (seven percent) over the corresponding period of ,2 Chart 1: SW Florida International Passenger Activity SW Florida International Airport (RSW) Passenger Activity 1,1 1, Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Source: Local Airport Authorities 7

8 Arrivals plus Departures - Thousands Arrivals plus Departures - Thousands 225 Chart 2: Sarasota Airport Passenger Activity Sarasota Bradenton Int'l Airport (SRQ) Passenger Activity Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Source: Local Airport Authorities 9 Chart 3: Punta Gorda Airport Passenger Activity Punta Gorda Airport (PGD) Passenger Activity Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Source: Local Airport Authorities 8

9 Monthly Tourst Tax Revenue - Millions Tourist Tax Revenues Seasonally-adjusted tourist tax revenues for the three coastal counties are shown in total in Chart 4 and for each coastal county in Chart 5, based on month of occupancy. For November 214, total seasonallyadjusted tourist tax revenues for the 3-county area were up 16 percent over November 213, extending the long term positive trend. Charlotte County s seasonally-adjusted tourist tax revenues were $259,937 in November 214, seven-percent higher than November 213. Collier County s seasonally-adjusted tourist tax revenues amounted to $1,79,195 in November 214, an increase of 17 percent over November 213. Lee County reported revenue of $3,8,649 for November 214, up 15 percent over November 213. Chart 4: Tourist Tax Revenues for the Coastal Counties Tourist Tax Revenue 211 to Present: 3 Coastal Counties Total Unadjusted Data Seasonally Adjusted (SA) Data Jan-11 Jan-12 Jan-13 Jan-14 Source: Local County Tourism, Tax, and Economic Development Reports 9

10 Monthly Tourist Tax Revenue - $ Millions Chart 5: Coastal County Tourist Tax Revenues, SA 3.5 County Tourist Tax Revenue 211 to present Lee Collier 1..5 Charlotte. Jan-11 Jan-12 Jan-13 Jan-14 Source: Local County Tourism, Tax, and Economic Development Reports Single-Family Building Permits A total of 457 single-family building permits were issued by the three coastal counties in December 214, an increase of 23 percent over December 213, and 21 percent more than November 214. The 13- month trend lines continue to show upward movement. Lee County issued 243 permits in December 214, up 22 percent over December 213, as shown in Chart 6. Collier County issued 152 permits in December 214, six-percent more than December 213, as shown in Chart 7. Charlotte County issued 62 permits in December 214, an increase of 121 percent over December 213, as shown in Chart 8. For the calendar year, the three coastal counties issued 5,743 single-family permits, an increase of 1,227 (27 percent) over 213. Lee County issued 2,958 permits in 214, an increase of 23 percent over 213. Collier County issued 2,21 permits, 34-percent more than 213. Charlotte County s total was 575, an increase of 28 percent over 213. Hendry County issued 17 permits in 214, an increase of 55 percent over

11 25 Av 26 Av 27 Av 28 Av 29 Av 21 Av 211 Av 212 Av 213 Av 214 Av Dec 213 Jan 214 Feb 214 Mar 214 Apr 214 May 214 Jun 214 Jul 214 Aug 214 Sep 214 Oct 214 Nov 214 Dec 214 Permits Issued 25 Av 26 Av 27 Av 28 Av 29 Av 21 Av 211 Av 212 Av 213 Av 214 Av Dec 213 Jan 214 Feb 214 Mar 214 Apr 214 May 214 Jun 214 Jul 214 Aug 214 Sep 214 Oct 214 Nov 214 Dec 214 Permits Issued (Logarithmic Scale) Chart 6: Single-Family Building Permits for Lee County Single Family Permits Issued - Lee County Monthly Averages; Most Recent 13 Months Data and Trend 1 Permits Linear Trend 1 1 Source: Local Building and Zoning Departments, including Fort Myers, Cape Coral, and Unincorporated Lee County, Bonita Springs and Fort Myers Beach permits. Chart 7: Single-Family Building Permits for Collier County 35 Single Family Permits Issued - Collier County Monthly Averages; Most Recent 13 Months Data and Trend Permits Linear Trend Source: Local Building and Zoning Departments, includes unincorporated Collier County permits only. 11

12 25 Av 26 Av 27 Av 28 Av 29 Av 21 Av 211 Av 212 Av 213 Av 214 Av Dec 213 Jan 214 Feb 214 Mar 214 Apr 214 May 214 Jun 214 Jul 214 Aug 214 Sep 214 Oct 214 Nov 214 Dec 214 Permits Issued Chart 8: Single-Family Building Permits for Charlotte County 25 Single Family Permits Issued - Charlotte County Monthly Averages; Most Recent 13 Months Data and Trend Permits Linear Trend 5 Source: Local Building and Zoning Departments, includes unincorporated Charlotte County permits only. Taxable Sales Taxable sales data track consumer spending, an important component of the regional economy. The following charts show the latest month of merchants collections, one month earlier than the reporting month issued by the Florida Department of Revenue. Chart 9 shows both seasonally-adjusted and unadjusted taxable sales for the region. Charts 1 and 11 show seasonally-adjusted taxable sales for each of the coastal and inland counties. The five counties in Southwest Florida had total seasonally-adjusted taxable sales of $1.947 billion for October 214, a ninepercent gain ($158.1 million) over October 213. The coastal counties of Charlotte, Collier, and Lee again showed gains over the prior year. Charts 9 and 1 continue to clearly show positive trends. Lee County taxable sales increased from $965.8 million in October 213 to $1.6 billion in October 214, a 1-percent increase. Collier County s taxable sales increased from $68.9 million to $657.9 million, an eight-percent increase over the same month last year. Charlotte County s taxable sales grew by nine percent from $185.5 million to $21.4 million. Hendry County s taxable sales dropped by one percent from $25.4 million in October 213 to $25.1 million in October 214. Taxable sales in Glades County declined from $3.5 million in October 213 to $3.2 million in October 214, a decrease of eight percent. All cited data are seasonally-adjusted. 12

13 Monthly Taxable Sales - $ Billons Chart 9: Taxable Sales for 5 County Region 2.5 Taxable Sales 211 to Present - 5 County Region Unadjusted Data Seasonally Adjusted (SA) Data. Jan-11 Jan-12 Jan-13 Jan-14 Source: Florida Department of Revenue, Office of Tax Research Chart 1: Taxable Sales for Coastal Counties Source: Florida Department of Revenue, Office of Tax Research 13

14 Monthly Taxable Sales - $ Millions Chart 11: Taxable Sales for Inland Counties 35 Inland County Taxable Sales to Present 3 Hendry All Data Seasonally Adjusted 1 5 Glades Jan-11 Jan-12 Jan-13 Jan-14 Source: Florida Department of Revenue, Office of Tax Research Workforce Labor Force, Employment and Unemployment Charts show total persons employed and unemployed, and the unemployment rate, for each county from January 25 to December 214, on a seasonally-adjusted basis. Unemployment rates above five or six percent generally reflect cyclical unemployment and a slowdown of the economy. Trends continue to be favorable as the December 214 seasonally-adjusted unemployment rate for our five-county region dropped to 5.5 percent from 5.7 percent in November, and from 6.2 percent in December 213. All five counties saw the number of unemployed decrease, with accompanying decreases in the unemployment rate from November 214 and from December 213. On a seasonallyadjusted basis, the number of unemployed in Southwest Florida has declined by 3,327 workers from one year ago. Lee County's seasonally-adjusted unemployment rate was 5.3 percent in December 214, down from 5.6 percent in November 214, and from 6. percent in December 213, as shown in Chart 12. Collier County s unemployment rate was 5.2 percent in December 214, lower than the 5.4 percent of November 214, as well as the 5.9-percent unemployment rate in December 213, as shown in Chart 13. The unemployment rate in Charlotte County dropped to 5.5 percent in December 214, down from 5.7 percent in November 214, and from 6.1 percent in December 213, as shown in Chart 14. Hendry County s December 214 unemployment rate was 9.6 percent,.2 percentage points lower than November 214, and.9 percentage points below December 213, as shown in Chart 15. The seasonallyadjusted unemployment rate in Glades County was 6.8 percent in December 214, down from 7.1 percent in November 214 and from 7.2 percent in December 213, as shown in Chart

15 Jan 5 Jan 6 Jan 7 Jan 8 Jan 9 Jan 1 Jan 11 Jan 12 Jan 13 Jan 14 Numbers of Employed / Unemployed - Thousands Unemployment Rate - Percent Florida s seasonally-adjusted unemployment rate dipped to 5.6 percent in December 214, down from 5.8 percent in November 214, and from 6.3 percent in December 213. This represents the lowest seasonally-adjusted unemployment rate for Florida since April 28. Nationally, the seasonally-adjusted unemployment rate has declined from 6.7 percent in December 213 to 5.8 percent in November 214 to 5.6 percent in December 214. Chart 12: Lee County Labor Force and Unemployment 35 Labor Force and Unemployment: Lee County Unemployed Employed Unemployment Rate 2.. Source: Florida Department of Economic Opportunity and seasonal adjustment by RERI 15

16 Jan 5 Jan 6 Jan 7 Jan 8 Jan 9 Jan 1 Jan 11 Jan 12 Jan 13 Jan 14 Numbers of Employed / Unemployed - Thousands Unemployment Rate - Percent Jan 5 Jan 6 Jan 7 Jan 8 Jan 9 Jan 1 Jan 11 Jan 12 Jan 13 Jan 14 Numbers of Employed / Unemployed - Thousands Unemployment Rate - Percent Chart 13: Collier County Labor Force and Unemployment Labor Force and Unemployment: Collier County Unemployed Employed Unemployment Rate Source: Florida Department of Economic Opportunity and seasonal adjustment by RERI Chart 14: Charlotte County Labor Force and Unemployment Labor Force and Unemployment: Charlotte County Unemployed Employed Unemployment Rate Source: Florida Department of Economic Opportunity and seasonal adjustment by RERI 16

17 Jan 5 Jan 6 Jan 7 Jan 8 Jan 9 Jan 1 Jan 11 Jan 12 Jan 13 Jan 14 Numbers of Employed / Unemployed - Thousands Unemployment Rate - Percent Jan 5 Jan 6 Jan 7 Jan 8 Jan 9 Jan 1 Jan 11 Jan 12 Jan 13 Jan 14 Numbers of Employed / Unemployed - Thousands Unemployment Rate - Percent Chart 15: Hendry County Labor Force and Unemployment Labor Force and Unemployment: Hendry County Unemployed Employed Unemployment Rate Source: Florida Department of Economic Opportunity and seasonal adjustment by RERI Chart 16: Glades County Labor Force and Unemployment 6 Labor Force and Unemployment: Glades County Unemployed Employed Unemployment Rate 2.. Source: Florida Department of Economic Opportunity and seasonal adjustment by RERI 17

18 Jan 213 Feb 213 Mar 213 Apr 213 May 213 Jun 213 Jul 213 Aug 213 Sep 213 Oct 213 Nov 213 Dec 213 Jan 214 Feb 214 Mar 214 Apr 214 May 214 Jun 214 Jul 214 Aug 214 Sep 214 Oct 214 Nov 214 Dec 214 Number of Homes Sold Median Sale Price - Thousands Sales of Existing Single family Homes and Median Sales Prices Existing single-family home sales by a Realtor for Lee, Collier, and Charlotte Counties are shown in Charts The line represents median prices against the scale on the right side, and the bars represent the number of homes sold with the scale on the left side. Sales of single-family homes in the three coastal counties rose to 1,913 units in December 214, up 16 percent from December 213, and 27 percent from November 214. For calendar 214, sales were 21,66 units, two-percent more than 213. Lee County sales for December 214 were 1,165 units, an increase of 17 percent over December 213, along with a seven-percent increase in the median price to $19, over the same period. 12,438 homes were sold in Lee County in 214, a two-percent increase over 213. Collier County had single-family home sales of 359 in December 214, an eight-percent increase over December 213, along with a 15-percent increase in the median home price to $378,. Sales for the year amounted to 4,355, a drop of 294 (6 percent) from 213. There were 389 single-family homes sold in Charlotte County in December 214, up 21 percent over December 213. The median price of $148, in December 214 was $2, less than the December 213 figure. Charlotte County sales for the year climbed 13 percent over 213 to a total of 4,273. Chart 17: Existing Single-Family Home Sales for Lee County Lee County Existing Single Family Home Sales by REALTORS 14 $25 12 $2 1 8 $15 6 $1 4 2 Lee Homes Sold Lee Median Sale Price $5 $ Source: REALTOR Association of Greater Fort Myers and the Beach, Inc. 18

19 Jan 213 Feb 213 Mar 213 Apr 213 May 213 Jun 213 Jul 213 Aug 213 Sep 213 Oct 213 Nov 213 Dec 213 Jan 214 Feb 214 Mar 214 Apr 214 May 214 Jun 214 Jul 214 Aug 214 Sep 214 Oct 214 Nov 214 Dec 214 Number of Homes Sold Median Sale Price - Thousands Jan 213 Feb 213 Mar 213 Apr 213 May 213 Jun 213 Jul 213 Aug 213 Sep 213 Oct 213 Nov 213 Dec 213 Jan 214 Feb 214 Mar 214 Apr 214 May 214 Jun 214 Jul 214 Aug 214 Sep 214 Oct 214 Nov 214 Dec 214 Number of Homes Sold Median Sale Price - Thousands Chart 18: Existing Single-Family Home Sales for Collier County Collier County Existing Single Family Home Sales by REALTORS 6 $ $4 $35 $3 3 2 $25 $2 $15 1 Collier Homes Sold * Collier Median Sale Price $1 $5 $ * Does not include Marco Island. Source: Naples Area Board of REALTORS (NABOR) Chart 19: Existing Single-Family Home Sales for Charlotte County 5 45 Charlotte County Existing Single Family Home Sales by REALTORS $18 $ Charlotte Homes Sold Charlotte Median Sale Price $14 $12 $1 $8 $6 $4 $2 $ Source: Florida REALTORS Punta Gorda, Florida MSA; 19

20 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Consumer Sentiment Index Chart 2 shows monthly data for the last three years and linear trend lines for both the Florida Consumer Sentiment Index ( CSI ) reported by the University of Florida Bureau of Economic and Business Research (BEBR) and for the United States Index of Consumer Sentiment ( ICS ) reported by Thomson Reuters/University of Michigan. The long-term trend continues to be positive for both indices. The national ICS rose to 93.6 in December 214, up 4.8 points from November 214, and 11.1 points above December 213, reaching its highest level since February 27. In the December 23, 214 Survey of Consumers, it was noted that, Consumer confidence reached its most favorable level since the last cyclical peak was set in January 27. The gains over the past several months have been primarily due to improving job and wage prospects, and more recently, to falling gasoline prices. Consumers held the most favorable long-term prospects for the national economy in the past decade. Importantly, the 214 gains in jobs and wages were widespread across all population subgroups and regions. Overall, the data point toward a gain of about 3.% in real consumer expenditures during 215. The Florida Consumer Sentiment Index rose to 87.4 in December 214, up 1.4 points from the November 214 figure, and an increase of 1.4 points over the December 213 figure. We had expected this slight increase in consumer sentiment given the improving Florida economy, said Christopher McCarty, the Survey Director, in the December 3, 214 Florida Consumer Sentiment Index. With the mid-term elections behind us, the passage of a federal budget and an improving economic climate in Florida consumers are more optimistic. The question is whether this optimism will carry over into the New Year. There is reason to believe it will, at least until mid-year when the Federal Reserve may begin raising short term interest rates. Until then economic circumstances for Floridians are likely to improve, although much slower than they have in previous recoveries. Chart 2: Consumer Sentiment Index 1 Florida and US Consumer Sentiment Indices Most Recent 3 Years and Linear Trend FL CSI FL CSI Trend US ICS US ICS Trend Source: Bureau of Economic and Business Research, University of Florida and Thompson Reuters/University of Michigan 2

21 Change From Year Earlier Consumer Price Index Year-to-year changes in consumer price indices (CPI) through December 214 are shown in Chart 21. Consumer price inflation rates have moderated. Consumer price inflation continues to be higher locally than the national figures. The latest data shows that the National CPI grew by.8 percent from December 213 to December 214, compared to 1.5 percent in the previous 12-month period. The Southern U.S. Region CPI increased by.6 percent for the 12 months ending December 214, down from 1.8 percent in December 213. The Miami-Ft. Lauderdale CPI increased by 1.4 percent from December 213 to December 214,.5 points below the increase of 1.9 points over the December 212 to December 213 period. Chart 21: CPI Annual Percentage Change 8% Consumer Price Index - Percentage Change From Year Earlier 6% 4% 2% % -2% -4% Miami / Ft. Lauderdale US South Region US National -6% Dec-5 Dec-6 Dec-7 Dec-8 Dec-9 Dec-1 Dec-11 Dec-12 Dec-13 Dec-14 Source: BLS Chart 22 shows the components of the Miami-Fort Lauderdale Consumer Price Index for the 12 months ending December 214. The largest increases from December 213 were in other goods and services (8.7 percent), food and beverage (4.1 percent), and housing (3.6 percent). Lower gasoline prices contributed to a 7.8-percent reduction in the transportation segment, while apparel costs dropped by 5.7 percent. 21

22 Chart 22: Miami-Fort Lauderdale CPI Component Percentage Change Source: BLS Population As previously reported, the following charts show historic population growth as well as population projections recently updated by the Office of Economic and Demographic Research (EDR) working with the University of Florida's Bureau of Economic and Business Research (BEBR). Regional population growth from 199 to 213 averaged 2.8 percent per year and is shown in Charts 23 and 24. The compound average annual rate of growth for 199 to 213 was 3.5 percent in Collier County, 2.9 percent in Lee, 2.2 percent in Glades County, and 1.7 percent each in Charlotte and Hendry Counties. Chart 25 and its accompanying table show projected population increases from 215 to 24. The regional projected population growth averages a slower 1.5 percent per year, resulting in a population increase of 5 percent for the five-county region from 213 to 24. The total 5-county population projection is 1,79,74 for 24. Lee County population is projected to grow an average of 1.8 percent per year, Collier County at 1.4 percent, and Charlotte County at.8 percent per year. Hendry County s population is projected to grow at an average of.3 percent per year and Glades County at.8 percent per year. 22

23 Population - Thousands Population - Thousands Chart 23: Coastal Counties Population Growth 199 to Historic Population Growth Charlotte, Collier, and Lee Counties Lee Collier Charlotte Based on results from Florida Demographic Estimating Conference, February 214 and UF BEBR Florida Population Studies, April 214. Chart 24: Inland Counties Population Growth 199 to Historic Population Growth Glades and Hendry Counties 4 35 Hendry Glades Based on results from Florida Demographic Estimating Conference, February 214 and UF BEBR Florida Population Studies, April

24 Populaton (Thousands) 2, 1,8 Chart 25: Population Projections by County Population Projections ,6 1,4 1,2 1, Glades 12,894 13,478 14,11 14,496 14,89 15,227 Hendry 38,121 39,31 39,741 4,275 4,67 4,892 Charlotte 166,34 174,121 18, , , ,729 Collier 345,1 379,59 411, ,93 47,69 492,533 Lee 673, , , ,479 98,632 1,44,323 Based on results from Florida Demographic Estimating Conference, February 214 and UF BEBR Florida Population Studies, April

July 2015 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone

July 2015 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone Southwest Florida Regional Economic Indicators July 215 Lutgert College Of Business 151 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-59-79 www.fgcu.edu/cob/reri Table of Contents Introduction: Regional

More information

June 2015 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone

June 2015 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone Southwest Florida Regional Economic Indicators June 215 Lutgert College Of Business 151 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-59-79 www.fgcu.edu/cob/reri Table of Contents Introduction: Regional

More information

August 2015 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone

August 2015 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone Southwest Florida Regional Economic Indicators August 215 Lutgert College Of Business 151 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-59-79 www.fgcu.edu/cob/reri Table of Contents Introduction: Regional

More information

Southwest Florida Regional Economic Indicators. August 2013

Southwest Florida Regional Economic Indicators. August 2013 Southwest Florida Regional Economic Indicators August 213 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

Southwest Florida Regional Economic Indicators. June 2013

Southwest Florida Regional Economic Indicators. June 2013 Southwest Florida Regional Economic Indicators June 213 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

Southwest Florida Regional Economic Indicators. April 2014

Southwest Florida Regional Economic Indicators. April 2014 Southwest Florida Regional Economic Indicators April 214 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

February 2016 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone

February 2016 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone Southwest Florida Regional Economic Indicators February 2016 Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090 www.fgcu.edu/cob/reri Table of Contents Introduction:

More information

Southwest Florida Regional Economic Indicators. June 2012

Southwest Florida Regional Economic Indicators. June 2012 Southwest Florida Regional Economic Indicators June 212 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

September 2015 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone

September 2015 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone Southwest Florida Regional Economic Indicators September 215 Lutgert College Of Business 151 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-59-79 www.fgcu.edu/cob/reri Table of Contents Introduction:

More information

July 2016 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone

July 2016 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone Southwest Florida Regional Economic Indicators July 2016 Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090 www.fgcu.edu/cob/reri Table of Contents Introduction:

More information

Southwest Florida Regional Economic Indicators. December 2016 VOLUME X NUMBER 12

Southwest Florida Regional Economic Indicators. December 2016 VOLUME X NUMBER 12 Southwest Florida Regional Economic Indicators December 2016 VOLUME X NUMBER 12 Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090 www.fgcu.edu/cob/reri Table of

More information

April 2016 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone

April 2016 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone Southwest Florida Regional Economic Indicators April 2016 Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090 www.fgcu.edu/cob/reri Table of Contents Introduction:

More information

Southwest Florida Regional Economic Indicators. April 2013

Southwest Florida Regional Economic Indicators. April 2013 Southwest Florida Regional Economic Indicators April 213 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

Southwest Florida Regional Economic Indicators. May 2013

Southwest Florida Regional Economic Indicators. May 2013 Southwest Florida Regional Economic Indicators May 213 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

Southwest Florida Regional Economic Indicators. September 2012

Southwest Florida Regional Economic Indicators. September 2012 Southwest Florida Regional Economic Indicators September 212 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

Southwest Florida Regional Economic Indicators. March 2013

Southwest Florida Regional Economic Indicators. March 2013 Southwest Florida Regional Economic Indicators March 213 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

Southwest Florida Regional Economic Indicators. March 2013

Southwest Florida Regional Economic Indicators. March 2013 Southwest Florida Regional Economic Indicators March 213 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

Southwest Florida Regional Economic Indicators. February 2011

Southwest Florida Regional Economic Indicators. February 2011 Southwest Florida Regional Economic Indicators February 211 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 51 FGCU Blvd. South Fort Myers,

More information

March 2016 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone

March 2016 Lutgert College Of Business FGCU Blvd. South Fort Myers, FL Phone Southwest Florida Regional Economic Indicators March 2016 Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090 www.fgcu.edu/cob/reri Table of Contents Introduction:

More information

September 2017 VOLUME XI NUMBER 9

September 2017 VOLUME XI NUMBER 9 Southwest Florida Regional Economic Indicators September 2017 VOLUME XI NUMBER 9 Regional Economic Research Institute Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090

More information

October 2017 VOLUME XI NUMBER 10

October 2017 VOLUME XI NUMBER 10 Southwest Florida Regional Economic Indicators October 2017 VOLUME XI NUMBER 10 Regional Economic Research Institute Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090

More information

Southwest Florida Regional Economic Indicators. September 2010

Southwest Florida Regional Economic Indicators. September 2010 Southwest Florida Regional Economic Indicators September 2 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 51 FGCU Blvd. South Fort Myers,

More information

April 2018 VOLUME XII NUMBER 4

April 2018 VOLUME XII NUMBER 4 Southwest Florida Regional Economic Indicators April 2018 VOLUME XII NUMBER 4 Regional Economic Research Institute Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090

More information

Southwest Florida Regional Economic Indicators. February 2013

Southwest Florida Regional Economic Indicators. February 2013 Southwest Florida Regional Economic Indicators February 213 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

Southwest Florida Regional Economic Indicators. February 2013

Southwest Florida Regional Economic Indicators. February 2013 Southwest Florida Regional Economic Indicators February 213 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

Southwest Florida Regional Economic Indicators. July 2017 VOLUME XI NUMBER 7

Southwest Florida Regional Economic Indicators. July 2017 VOLUME XI NUMBER 7 Southwest Florida Regional Economic Indicators July 2017 VOLUME XI NUMBER 7 Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090 www.fgcu.edu/cob/reri Table of Contents

More information

October 2018 VOLUME XII NUMBER 10

October 2018 VOLUME XII NUMBER 10 Southwest Florida Regional Economic Indicators October 218 VOLUME XII NUMBER 1 Regional Economic Research Institute Lutgert College Of Business 151 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-59-79

More information

January 2018 VOLUME XII NUMBER 1

January 2018 VOLUME XII NUMBER 1 Southwest Florida Regional Economic Indicators January 2018 VOLUME XII NUMBER 1 Regional Economic Research Institute Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090

More information

March 2018 VOLUME XII NUMBER 3

March 2018 VOLUME XII NUMBER 3 Southwest Florida Regional Economic Indicators March 2018 VOLUME XII NUMBER 3 Regional Economic Research Institute Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090

More information

August 2018 VOLUME XII NUMBER 8

August 2018 VOLUME XII NUMBER 8 Southwest Florida Regional Economic Indicators August 2018 VOLUME XII NUMBER 8 Regional Economic Research Institute Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090

More information

September 2018 VOLUME XII NUMBER 9

September 2018 VOLUME XII NUMBER 9 Southwest Florida Regional Economic Indicators September 2018 VOLUME XII NUMBER 9 Regional Economic Research Institute Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090

More information

July 2018 VOLUME XII NUMBER 7

July 2018 VOLUME XII NUMBER 7 Southwest Florida Regional Economic Indicators July 2018 VOLUME XII NUMBER 7 Regional Economic Research Institute Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090

More information

Southwest Florida Regional Economic Indicators. March 2010

Southwest Florida Regional Economic Indicators. March 2010 Southwest Florida Regional Economic Indicators March 21 Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

November 2018 VOLUME XII NUMBER 11

November 2018 VOLUME XII NUMBER 11 Southwest Florida Regional Economic Indicators November 2018 VOLUME XII NUMBER 11 Regional Economic Research Institute Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090

More information

April 2019 VOLUME XIII NUMBER 4

April 2019 VOLUME XIII NUMBER 4 Southwest Florida Regional Economic Indicators April 2019 VOLUME XIII NUMBER 4 Regional Economic Research Institute Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090

More information

JANUARY 2019 VOLUME XIII NUMBER 1

JANUARY 2019 VOLUME XIII NUMBER 1 Southwest Florida Regional Economic Indicators JANUARY 2019 VOLUME XIII NUMBER 1 Regional Economic Research Institute Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090

More information

Southwest Florida Regional Economic Indicators. October 2008

Southwest Florida Regional Economic Indicators. October 2008 Southwest Florida Regional Economic Indicators October 2008 Regional Economic Research Institute Lutgert College Of Business Phone 239-590-7319 Florida Gulf Coast University 10501 FGCU Blvd. South Fort

More information

Southwest Florida Regional Economic Indicators

Southwest Florida Regional Economic Indicators Southwest Florida Regional Economic Indicators September Regional Economic Research Institute Lutgert College Of Business Phone 239-59-7319 Florida Gulf Coast University 151 FGCU Blvd. South Fort Myers,

More information

ECONOMIC CURRENTS. Vol. 2, Issue 1 THE SOUTH FLORIDA ECONOMIC QUARTERLY. Introduction. In this Issue:

ECONOMIC CURRENTS. Vol. 2, Issue 1 THE SOUTH FLORIDA ECONOMIC QUARTERLY. Introduction. In this Issue: ECONOMIC CURRENTS THE SOUTH FLORIDA ECONOMIC QUARTERLY Vol. 2, Issue 1 Introduction Economic Currents provides an overview of the South Florida regional economy. The report combines current employment,

More information

Robert D. Cruz, PhD, Chief Economist

Robert D. Cruz, PhD, Chief Economist Robert D. Cruz, PhD, Chief Economist Office of Economic Development and International Trade Miami-Dade County cruzr1@miamidade.gov / www.miamidade.gov/oedit Office of Economic Development and International

More information

Robert D. Cruz, PhD, Chief Economist Miami-Dade County 305-375-1879 cruzr1@miamidade.gov www.miamidade.gov/economicdevelopment Department of Regulatory and Economic Resources Page 1 Local economic indicators

More information

Southwest Florida Executive Business Climate Survey Fall 2007

Southwest Florida Executive Business Climate Survey Fall 2007 Southwest Florida Executive Business Climate Survey Fall 2007 By: Dr. Gary Jackson, Director Regional Economic Research Institute Florida Gulf Coast University Harborside Events Center October 18th, 2007

More information

CBER Indexes for Nevada and Southern Nevada

CBER Indexes for Nevada and Southern Nevada CBER Indexes for Nevada and Southern Nevada Published June 23, 2017 Stephen M. Miller, PhD, Director Nicolas Prada, Graduate Research Assistant Summary of CBER s Nevada Indexes Coincident Index (March)

More information

Emerging Trends in the U.S. and Colorado Economies

Emerging Trends in the U.S. and Colorado Economies Emerging Trends in the U.S. and Colorado Economies Sam Chapman Associate Economist Federal Reserve Bank of Kansas City Denver Branch The views expressed are those of the presenter and do not necessarily

More information

Nonfarm Payroll Employment

Nonfarm Payroll Employment PRESIDENT'S REPORT TO THE BOARD OF DIRECTORS, FEDERAL RESERVE BANK OF BOSTON Current Economic Developments - June 10, 2004 Data released since your last Directors' meeting show the economy continues to

More information

ECONOMIC CURRENTS. Vol. 1, Issue 3 THE SOUTH FLORIDA ECONOMIC QUARTERLY. Introduction. In this Issue:

ECONOMIC CURRENTS. Vol. 1, Issue 3 THE SOUTH FLORIDA ECONOMIC QUARTERLY. Introduction. In this Issue: ECONOMIC CURRENTS THE SOUTH FLORIDA ECONOMIC QUARTERLY Vol. 1, Issue 3 Introduction Economic Currents provides a comprehensive overview of the South Florida regional economy. The report combines current

More information

ECONOMIC & REVENUE UPDATE

ECONOMIC & REVENUE UPDATE January 11, 2018 Summary summary The U.S. labor market gained 148,000 net new jobs in December. U.S. housing starts in November 2017 were 12.9% above their year-ago level. Consumer confidence declined

More information

Economic Highlights. ISM Purchasing Managers Index 1. Sixth District Payroll Employment by Industry 2. Contributions to Real GDP Growth 3

Economic Highlights. ISM Purchasing Managers Index 1. Sixth District Payroll Employment by Industry 2. Contributions to Real GDP Growth 3 December 1, 2010 Economic Highlights Manufacturing ISM Purchasing Managers Index 1 Employment Sixth District Payroll Employment by Industry 2 Economic Activity Contributions to Real GDP Growth 3 Prices

More information

ECONOMIC AND FINANCIAL HIGHLIGHTS

ECONOMIC AND FINANCIAL HIGHLIGHTS ECONOMIC AND FINANCIAL HIGHLIGHTS LABOR MARKET Contributions to Change in Nonfarm Payrolls 2 Unemployment and Labor Force Participation Rate 3 MANUFACTURING ISM Manufacturing Index 4 CONSUMERS Light Vehicle

More information

U.S. Economic Update and Outlook. Laurel Graefe, REIN Director Federal Reserve Bank of Atlanta October 2, 2013

U.S. Economic Update and Outlook. Laurel Graefe, REIN Director Federal Reserve Bank of Atlanta October 2, 2013 1 U.S. Economic Update and Outlook Laurel Graefe, REIN Director Federal Reserve Bank of Atlanta October 2, 213 Following the deepest recession since the 193s, the economic recovery is well under way, though

More information

The real change in private inventories added 0.15 percentage points to the second quarter GDP growth, after subtracting 0.65% in the first quarter.

The real change in private inventories added 0.15 percentage points to the second quarter GDP growth, after subtracting 0.65% in the first quarter. QIRGRETA Monthly Macroeconomic Commentary United States The U.S. economy rebounded in the second quarter of 2007, growing at an annual rate of 3.4% Q/Q (+1.8% Y/Y), according to the GDP advance estimates

More information

Economic Currents Vol. 1, Issue 4

Economic Currents Vol. 1, Issue 4 Introduction Economic Currents provides a comprehensive overview of the South Florida regional economy. The report combines current employment, economic and real estate market data using key indicators

More information

Data current as of: August 5, ,200,000 1,000, , , , , , , , , , , ,000

Data current as of: August 5, ,200,000 1,000, , , , , , , , , , , ,000 Forecast Version: Spring 216 Economic Indicators The Bureau of Labor Statistics reported a total nonfarm payroll employment increase of 287, in June with the unemployment rate rising.2% to 4.9%. The jobs

More information

Ontario Economic Accounts

Ontario Economic Accounts SECOND QUARTER OF 2017 April, May, June Ontario Economic Accounts ONTARIO MINISTRY OF FINANCE Table of Contents ECONOMIC ACCOUNTS Highlights 1 Ontario s Economy Continues to Grow Expenditure Details 2

More information

CBER Indexes for Nevada and Southern Nevada

CBER Indexes for Nevada and Southern Nevada CBER Indexes for Nevada and Southern Nevada Published March 24, 2016 Stephen M. Miller, PhD, Director Jinju Lee, Economic Analyst Summary of CBER s Nevada Indexes Coincident Index Leading Index Mo. to

More information

Economic Update. Platts Aluminum Symposium 2014 Ft. Lauderdale, Florida January 13, Chris Oakley Federal Reserve Bank of Atlanta January 2014

Economic Update. Platts Aluminum Symposium 2014 Ft. Lauderdale, Florida January 13, Chris Oakley Federal Reserve Bank of Atlanta January 2014 1 Economic Update Platts Aluminum Symposium 2014 Ft. Lauderdale, Florida January 13, 2014 Chris Oakley Federal Reserve Bank of Atlanta January 2014 2 Summary of the Economic Environment 1. Economic growth

More information

The President s Report to the Board of Directors

The President s Report to the Board of Directors The President s Report to the Board of Directors April 4, 214 Current Economic Developments - April 4, 214 Data released since your last Directors' meeting show the economy was a bit stronger in the fourth

More information

C I T Y O F B O I S E

C I T Y O F B O I S E C I T Y O F B O I S E D E P A R T M E N T O F F I N A N C E A N D A D M I N I S T R A T I O N Office of Budget Development & Monitoring Economic Brief Mike Sherack, Senior Budget Analyst & Brent Davis,

More information

The real change in private inventories added 0.22 percentage points to the second quarter GDP growth, after subtracting 0.65% in the first quarter.

The real change in private inventories added 0.22 percentage points to the second quarter GDP growth, after subtracting 0.65% in the first quarter. QIRGRETA Monthly Macroeconomic Commentary United States The U.S. economy bounced back in the second quarter of 2007, growing at the fastest pace in more than a year. According the final estimates released

More information

CBER Economic Indexes for Nevada and Southern Nevada

CBER Economic Indexes for Nevada and Southern Nevada CBER Economic Indexes for Nevada and Southern Nevada Published December 19, 2017 Stephen M. Miller, PhD, Director Nicolas Prada, M.A., Graduate Research Assistant Summary of CBER s Nevada Indexes Coincident

More information

Figure 1: Change in LEI-N August 2018

Figure 1: Change in LEI-N August 2018 Nebraska Monthly Economic Indicators: September 26, 2018 Prepared by the UNL College of Business, Bureau of Business Research Author: Dr. Eric Thompson Leading Economic Indicator...1 Coincident Economic

More information

INLAND EMPIRE REGIONAL INTELLIGENCE REPORT. School of Business. Fourth Quarter 2018 CENTER FOR ECONOMIC FORECASTING & DE VELOPMENT

INLAND EMPIRE REGIONAL INTELLIGENCE REPORT. School of Business. Fourth Quarter 2018 CENTER FOR ECONOMIC FORECASTING & DE VELOPMENT INLAND EMPIRE REGIONAL INTELLIGENCE REPORT Fourth Quarter 2018 School of Business CENTER FOR ECONOMIC FORECASTING & DE VELOPMENT INTRODUCTION 2018 was another strong year for the Inland Empire. The region

More information

County Population

County Population County Population 1980-2015 County Population (000) Turnpike Interchanges and Facilities 1980 1990 2000 2010 2011 2012 2013 2014 2015 Average Annual Growth ( 80-15) Miami-Dade HEFT (0 through 35), 3X 1,626

More information

The labor market has continued to strengthen and economic activity has been expanding at a moderate pace this year.

The labor market has continued to strengthen and economic activity has been expanding at a moderate pace this year. Current Economic Climate Overview The Federal Reserve publishes a report (known as the Beige Book) eight times per year that summarizes current economic conditions throughout the twelve Federal Reserve

More information

HKU Announced 2013 Q3 HK Macroeconomic Forecast

HKU Announced 2013 Q3 HK Macroeconomic Forecast COMMUNICATIONS & PUBLIC AFFAIRS OFFICE THE UNIVERSITY OF HONG KONG Enquiry: 2859 1106 Website: http://www.hku.hk/cpao For Immediate Release HKU Announced 2013 Q3 HK Macroeconomic Forecast Hong Kong Economic

More information

Data Digest: Florida. December 2013

Data Digest: Florida. December 2013 Data Digest: Florida December 2013 The overall economic performance for Florida and the United States has been improving since the end of 2010. As of August this year, Florida has been improving at a faster

More information

QUARTERLY FINANCIAL REPORT

QUARTERLY FINANCIAL REPORT QUARTERLY FINANCIAL REPORT Page Key Trends Summary...2 Executive Summary...3 Economic Indicators...4 General Fund...8 Public Safety & Justice...10 Land Use, Housing & Transportation...11 Health & Human

More information

FEBRUARY 2017 EMPLOYMENT CONSTRUCTION TRANSIT & TOURISM

FEBRUARY 2017 EMPLOYMENT CONSTRUCTION TRANSIT & TOURISM FINANCE REAL ESTATE TRANSIT & TOURISM HIGHLIGHTS January 2017 saw a sharp rise in private sector employment The value of venture capital financings in New York City grew 18% in the final quarter of Citywide

More information

Data current as of: June 3, ,000, , , , , , , , , , , , , ,000

Data current as of: June 3, ,000, , , , , , , , , , , , , ,000 Forecast current as of: Spring 214 Economic Indicators The unemployment rate fell by a large margin (.4 percentage points) in April. Total employment rose by 288, jobs. There were 32, construction jobs

More information

Data Digest: Florida. September 2012

Data Digest: Florida. September 2012 Data Digest: Florida September 2012 Broad indicators of economic activity for both Florida and the United States have been improving since 2010; however, Florida s pace of recovery continues to be much

More information

Charlotte County SOUTHWEST FLORIDA Economic Development Office

Charlotte County SOUTHWEST FLORIDA Economic Development Office Charlotte County SOUTHWEST FLORIDA Economic Development Office QUARTERLY ECONOMIC INDICATOR REPORT October 2017 18501 Murdock Circle, Suite 302 Port Charlotte, FL 33948 Office: 941.764.4941 www.cleared4takeoff.com

More information

Florida: An Economic Overview

Florida: An Economic Overview Florida: An Economic Overview November 15, 2010 Presented by: The Florida Legislature Office of Economic and Demographic Research 850.487.1402 http://edr.state.fl.us Economy Lost Ground in 2008 Florida

More information

ECONOMIC CURRENTS. Vol. 2, Issue 3 THE SOUTH FLORIDA ECONOMIC QUARTERLY. Introduction. In this Issue:

ECONOMIC CURRENTS. Vol. 2, Issue 3 THE SOUTH FLORIDA ECONOMIC QUARTERLY. Introduction. In this Issue: ECONOMIC CURRENTS THE SOUTH FLORIDA ECONOMIC QUARTERLY Vol. 2, Issue 3 Introduction Economic Currents provides an overview of the South Florida regional economy. The report combines current employment,

More information

Data Digest: Florida. June 2012

Data Digest: Florida. June 2012 Data Digest: Florida June 2012 Broad indicators of economic activity for Florida and the United States continue to improve; however, Florida s pace of recovery remains below that of the nation. About the

More information

Leading Economic Indicator Nebraska

Leading Economic Indicator Nebraska Nebraska Monthly Economic Indicators: October 24, 2018 Prepared by the UNL College of Business, Bureau of Business Research Author: Dr. Eric Thompson Leading Economic Indicator...1 Coincident Economic

More information

MISSISSIPPI S BUSINESS Monitoring the state s economy

MISSISSIPPI S BUSINESS Monitoring the state s economy MISSISSIPPI S BUSINESS Monitoring the state s economy A Publication of the University Research Center, Mississippi Institutions of Higher Learning JULY 2015 VOLUME 73, NUMBER 7 ECONOMY AT A GLANCE igure

More information

Leading Economic Indicator Nebraska

Leading Economic Indicator Nebraska Nebraska Monthly Economic Indicators: August 15, 2014 Prepared by the UNL College of Business Administration, Department of Economics Authors: Dr. Eric Thompson, Dr. William Walstad Graduate Research Assistants:

More information

MBA Forecast Commentary Joel Kan

MBA Forecast Commentary Joel Kan MBA Forecast Commentary Joel Kan Economy & Labor Markets Strong Enough, First Rate Hike Expected in December MBA Economic and Mortgage Finance Commentary: November 2015 This month s outlook largely mirrors

More information

Data Digest: Florida. June 2011

Data Digest: Florida. June 2011 Data Digest: Florida June 2011 Florida s economic performance continues to lag the nation. Broad indicators of economic activity in Florida show stabilization but little improvement. Comparable U.S. data

More information

Weekly Macroeconomic Review

Weekly Macroeconomic Review 16/10/2012 Weekly Macroeconomic Review Expectations derived from the capital market Our forecast Inflation in the coming months Inflation through September 2013 CPI (average annual rate) Inflation through

More information

Data current as of: April 4, % 10.0% 8.0% 6.0% 4.0% 2.0% 250, , , ,000 50, , , , , ,000

Data current as of: April 4, % 10.0% 8.0% 6.0% 4.0% 2.0% 250, , , ,000 50, , , , , ,000 Forecast current as of: January 213 Economic Indicators U.S. unemployment decreased to 7.7% in February from 7.9% last month, as nonfarm payroll employment increased by 236,. In the previous 3 months,

More information

Economic Conditions and Outlook for the U.S., Kansas, and the Midwest

Economic Conditions and Outlook for the U.S., Kansas, and the Midwest Economic Conditions and Outlook for the U.S., Kansas, and the Midwest Midwest Regional Public Finance Conference Wichita, KS April 25, 2014 Kelly D. Edmiston Federal Reserve Bank of Kansas City Overview

More information

State of Ohio Workforce. 2 nd Quarter

State of Ohio Workforce. 2 nd Quarter To Strengthen Ohio s Families through the Delivery of Integrated Solutions to Temporary Challenges State of Ohio Workforce 2 nd Quarter 2 0 1 2 Quarterly Report on the State of Ohio s Workforce Reference

More information

TAMPA AREA ECONOMIC SUMMARY

TAMPA AREA ECONOMIC SUMMARY TAMPA AREA ECONOMIC SUMMARY This summary presents a sampling of economic information and indicators for both Hillsborough County and the Tampa Bay Metropolitan Statistical Area (MSA). These economic indicators

More information

The US Economic Outlook (with a Fed twist)

The US Economic Outlook (with a Fed twist) The US Economic Outlook (with a Fed twist) Presentation prepared for the Economic Outlook Conference 2011 January 13, 2011 Chapter 1: Why the FOMC went with QE2, an interpretive dance by David Altig, who

More information

ECONOMIC CURRENTS THE SOUTH FLORIDA ECONOMIC QUARTERLY

ECONOMIC CURRENTS THE SOUTH FLORIDA ECONOMIC QUARTERLY THE SOUTH FLORIDA ECONOMIC QUARTERLY Volume I, Issue 1 Introduction Economic Currents provides a comprehensive overview of the South Florida regional economy. The report combines current employment, economic

More information

Center for Business and Economic Research Dixon Hughes Goodman Triad Business (October 2014)

Center for Business and Economic Research Dixon Hughes Goodman Triad Business (October 2014) Center for Business and Economic Research Dixon Hughes Goodman Triad Business (October 2014) The is developed and maintained by: Dr. G. Donald Jud, Center for Bus. & Eco. Res., Bryan School of Bus. & Eco.,

More information

CBER Economic Indexes for Nevada and Southern Nevada

CBER Economic Indexes for Nevada and Southern Nevada CBER Economic Indexes for Nevada and Southern Nevada Published February 9, 2018 Stephen M. Miller, PhD, Director Marshall Krakauer, Graduate Research Assistant Summary of CBER s Nevada Indexes Coincident

More information

Improved Macroeconomic Conditions Boost Consumer Sentiment to Its Highest Level in 3½-Year

Improved Macroeconomic Conditions Boost Consumer Sentiment to Its Highest Level in 3½-Year ECONOMIC REPORT Business & Consumer Confidence 17 April 2018 Improved Macroeconomic Conditions Boost Consumer Sentiment to Its Highest Level in 3½-Year MIER s CSI rebounded to 3.5-year high. Underpin by

More information

First Quarter. January March 2016

First Quarter. January March 2016 First Quarter January March 2016 Highlights First quarter showed positive momentum for design industry. Design firms in March reported strong and accelerating business after a weak January and February.

More information

Outlook for the Texas Economy. Luis Bernardo Torres Ruiz, Ph.D. August 26, 2016

Outlook for the Texas Economy. Luis Bernardo Torres Ruiz, Ph.D. August 26, 2016 Outlook for the Texas Economy Luis Bernardo Torres Ruiz, Ph.D. August 26, 2016 Research Economist Texas Society of Architects Contents 1. U.S. Economic Outlook 2. Texas Economic Outlook 3. Challenges and

More information

CBER Economic Indexes for Nevada and Southern Nevada

CBER Economic Indexes for Nevada and Southern Nevada CBER Economic Indexes for Nevada and Southern Nevada Published November 14, 2018 Stephen M. Miller, PhD, Director Hasara Rathnasekara, Graduate Research Assistant Summary of CBER s Nevada Indexes Coincident

More information

HKU Announced 2011 Q3 HK Macroeconomic Forecast

HKU Announced 2011 Q3 HK Macroeconomic Forecast COMMUNICATIONS & PUBLIC AFFAIRS OFFICE THE UNIVERSITY OF HONG KONG Enquiry: 2859 1106 Website: http://www.hku.hk/cpao For Immediate Release HKU Announced 2011 Q3 HK Macroeconomic Forecast Economic Outlook

More information

Old Dominion University 2016 Regional Economic Forecast. Strome College of Business

Old Dominion University 2016 Regional Economic Forecast. Strome College of Business Old Dominion University 2016 Regional Economic Forecast January 27, 2016 Professor Vinod Agarwal Director, Economic Forecasting Project Strome College of Business www.odu.edu/forecasting 1 Presentation

More information

Economic Update. Air & Waste Management Association. Georgia Chapter. Michael Chriszt Federal Reserve Bank of Atlanta October 4, 2013

Economic Update. Air & Waste Management Association. Georgia Chapter. Michael Chriszt Federal Reserve Bank of Atlanta October 4, 2013 1 Economic Update Air & Waste Management Association Georgia Chapter The views expressed here are not necessarily those of the FOMC, the Federal Reserve Bank of Atlanta, or the Federal Reserve System.

More information

ECONOMIC AND FINANCIAL HIGHLIGHTS

ECONOMIC AND FINANCIAL HIGHLIGHTS ECONOMIC AND FINANCIAL HIGHLIGHTS FEDERAL RESERVE BALANCE SHEET Assets and Liabilities 2-3 REAL ESTATE Construction Spending 4 CoreLogic Home Price Index 5 Mortgage Rates and Applications 6-7 CONSUMER

More information

Leading Economic Indicator Nebraska

Leading Economic Indicator Nebraska Nebraska Monthly Economic Indicators: December 20, 2017 Prepared by the UNL College of Business Administration, Bureau of Business Research Author: Dr. Eric Thompson Leading Economic Indicator...1 Coincident

More information

Michigan s January Unemployment Rate Moves Up Seasonally

Michigan s January Unemployment Rate Moves Up Seasonally Labor Market News Michigan s March 2016 Vol. 72, Issue No. 1 Percent Michigan s January Unemployment Rate Moves Up Seasonally Michigan s unemployment rate (not seasonally adjusted) increased by 0.6 of

More information

Old Dominion University 2017 Regional Economic Forecast. Strome College of Business

Old Dominion University 2017 Regional Economic Forecast. Strome College of Business Old Dominion University 2017 Regional Economic Forecast January 25, 2017 Professor Vinod Agarwal Director, Economic Forecasting Project Strome College of Business www.odu.edu/forecasting The views expressed

More information

THE CONFERENCE BOARD LEADING ECONOMIC INDEX (LEI) FOR THE EURO AREA AND RELATED COMPOSITE ECONOMIC INDEXES FOR JUNE

THE CONFERENCE BOARD LEADING ECONOMIC INDEX (LEI) FOR THE EURO AREA AND RELATED COMPOSITE ECONOMIC INDEXES FOR JUNE FOR RELEASE: 10:00 A.M. (BRUSSELS TIME), MONDAY, JULY 26, 2010 The Conference Board Euro Area Business Cycle Indicators SM THE CONFERENCE BOARD LEADING ECONOMIC INDEX (LEI) FOR THE EURO AREA AND RELATED

More information