Overall Index Falls 13.54 pts to 48.79 in Dec, Following 13.63 pt. Decrease in Nov
Tallahassee, FL – The Tallahassee Economic Index (TEI), the city’s top economic growth indicator, today released numbers ending Dec. 2015 which show an improving employment landscape coupled with a slowing housing market.
“While many of the components within the TEI are negative month-over-month and-year over-year, there’s a big bright spot in the data. The most forward looking indicator for employment, Initial Unemployment Claims, has improved substantially from a year ago and has shown continued strength throughout the year,” said TEI Founder Brett F. Ewing. “This shows a tight job market which should lead to increased wages and filter through into strong sales data in 2016.”
“The TEI followed up a down month with another one just as sluggish” said Lance Mitchell, Director of Research at the TEI. “The downturn in housing related data was sharp and accelerated into the end of the year. We saw a cooling off of a red hot market from the prior year with new construction permits, realtor sales and median sales price all dropping at least seven percent.”