Economic Sunshine Finally Returns to Florida

Florida, the land of perpetual summer, is finally emerging from the economic winter that has characterized our state for the last few years. According to an indicator compiled by e-forecasting that shows economic direction, the state has shown dramatic improvements since its low point in April, 2009 and will show positive improvement for the first time since November, 2006. Increases in indicator scores often signal general economic improvement in the following months, which bodes well for business in 2010.

Nationwide, the indicator is based on 10 factors

1. Unemployment claims

2. Improved outlook for international travel

3. Increase in consumer sentiment

4. Rising national stock markets

5. Improved interest rate spreads

6. Boost in the national technology index

7. Building permits

8. Weekly hours for production workers

9. Manufacturing exports

10. Willingness of U.S. residents to take vacations

The last four factors are still lagging in most states. These things tend to show improvement (or decline) before the state economy does. Since the Florida economy is so dependent on tourism, discretionary spending, and construction, recovery in the state tends to lag behind national recovery.

While business owners haven't seen a major turnaround yet, University of Florida researchers seeing rising consumer sentiment. When consumers feel more confident, they increase spending, which impacts other factors. This is great news for Florida , which has been among the hardest hit state in the current recession.

An improving economy makes it a great time to buy a home or condo. Prices remain low and inviting. If you are looking for your first home in the Orlando and other Central Florida cities, Janice Petteway and the Exit Results Real Estate team can help you find the home of your dreams.