February 2016 Press Release


April 12, 2016

FOR IMMEDIATE RELEASE CONTACT:

Chelsea Gold
(850) 422-7742
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Local Labor Market, Airport Traffic, Real Estate All Improved in February

Significant Gains Seen in Sales Price, Realtor Sales, Home Furnishings, Household Appliances

Tallahassee, FL – The Tallahassee Economic Index (TEI), the city’s top economic growth indicator, today released numbers ending February 2016 which show a boost in economic activity, especially in the labor market.

“After three consecutive monthly declines, the TEI rebounded sharply in February. The most forward looking indicator for employment, Initial Claims for Reemployment Assistance, hit a 15-year low displaying tremendous strength in the local job market,” said TEI Founder Brett F. Ewing. “Also worth noting, airport traffic finally saw a respite from five straight months of decline, jumping over nine percent.”

Overall the index rose 7.73 points to 54.94, which follows a 1.58 point decrease in January and a 13.54 point drop in December.

“After falling but showing blips of promise in January, the TEI posted a solid month of meaningful growth” said Lance Mitchell, Director of Research at the TEI. “Leon County residents continue to invest heavily into real estate as Sales Price, Realtor Sales, Home Furnishings and Household Appliances all saw nice gains on a year-over-year basis.”

  • Graphic Arts and Printing, a leading small business indicator, was up 10.1 percent YoY and 64.63 percent MoM

    • Home Furniture, Furnishings and Equipment was up 17.8 percent YoY
    • Realtor Sales were up 14 percent YoY and 13.9 percent MoM
    • Median Home Sales Price were up two percent YoY
    • Advertising continues its good run rising 73.8 percent YoY and 6.56 percent MoM
    • Apparel and Accessory Stores had a surprisingly good month seasonally, rising 7.95 percent on a YoY basis
    • Drinking Places posted strong results again, up 19.61 percent YoY and 8.09 percent MoM
  • The components of the TEI include:

    Initial Unemployment Claims

    Office Supplies

    Lumber

    Building Permits

    Average Home Sales Price

    Realtor Sales Counts

    Shoe Stores

    Advertising

    Home Furniture

    Graphic Arts, Printing and Publishing

    Household Appliances

    Apparel

    Airport Traffic

    Pawn Shops

    Drinking Establishments


    About the TEI

    Powered by First Franklin Financial Services, the TEI tracks and predicts economic growth in the city of Tallahassee, Florida. This is accomplished using data collected from official sources throughout Leon County. More info at TallahasseeEconomicIndex.com.

    CONTACT

    • Tallahassee Economic Index
    • 2528 BARRINGTON CIRCLE #1
    • TALLAHASSEE, FL 32308
    • Phone:
      (850) 422-7724
    • Fax:
      (850) 422-7736

    The Tallahassee Economic Index, First Franklin Financial Services and Centaurus Financial Incorporated are not affiliated companies.

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