Florida Economy Bounces Back

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Comerica Bank’s Florida Economic Activity Index rebounded in January, jumping to a level of 116.5. The January index reading is 36 points, or 45 percent, above the index cyclical low of 80.6. The index averaged 110 in 2012, 11 points above the average for all of 2011.December’s index reading was revised up 0.2 percentage points from the originally published.

The Florida Economic Activity Index consists of seven variables, as follows: nonfarm payrolls, exports, sales tax revenues, hotel occupancy rates, continuing claims for unemployment insurance, building permits, and airline passenger deplanements.  All data are seasonally adjusted, as necessary, and indexed to a base year of 2008. Nominal values have been converted to constant dollar values. Index levels are expressed in terms of three-month moving averages.

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