The economic tea leaves look better for Florida than they have since March.
A leading economic index for Florida calculated by the Federal Reserve’s Philadelphia branch is at a six-month high, suggesting Florida’s economy will continue growing through at least the first part of 2013. That’s not a big surprise: the Florida index by the “Philly Fed” has been positive since the start of 2010.
More noteworthy is the trend, with the index moving higher for three consecutive months. That hasn’t happened since October 2011, a time when experts saw the national economic rebound losing its momentum and giving way to a slower tempo. The next two reports will be critical in determining the overall trend. Florida’s Philly Fed index hasn’t been positive for six consecutive months since March 2010.