A new report just issued on the end of July indicates a slow but steady recovery in the Florida economy. Also for the large part the economy has not been affected by the Gulf oil spillage.
A University of central Florida report says that while the Florida panhandle suffered on the tourism side due to the oil spillage it will not effect the expected 2.9% growth this year.
The report also calls the economic recovery in Florida “a snail’s pace recovery”
They say that of the 12 economic districts covered in the Fed’s Beige Book report only two districts reported a slow down in economic growth Chicago and Atlanta. Atlanta is showing signs of businesses adding hours to payroll than hiring new workers this with the flat real estate market at present means that the recovery across the U.S. will not be bouncing back as much as was hoped and is more a modest yet uninterrupted recovery.
U.C.F. economist Sean Smith states that nothing is really going to start percolating through until 2011 or even the first quarter of 2012.
