Tallahassee, FL – The Tallahassee Economic Index (TEI), the city’s top economic growth indicator, today released numbers ending May 2017.The numbers showed categories like Advertising, Office Supplies, Pawn Shops and Drinking Places had a rough month in May. This was counterbalanced by the strength seen in other inputs like New Construction Permits, which are having a banner year.
“The Index was essentially flat in May. After April broke the two month downward move, it couldn’t keep its momentum.” said TEI Founder Brett F. Ewing. “The May numbers showed a return to the same trend seen for most of the year. Real estate leads while consumer and business spending are stagnate.”
The Index saw a modest drop of .02 points, from 51.06 in April to 51.04 in May.
“We will have to wait until June to see if the TEI can build on the traction it gained in April, since May was surprisingly flat,” said Lance Mitchell, Director of Research at the TEI. “While local retail spending remains weak, Tallahassee residents should feel especially good about their house and their job as median sales price remains near all-time highs and unemployment near all-time lows.”