September 2017 Press Release


November 20, 2017

FOR IMMEDIATE RELEASE CONTACT:

Chelsea Gold
(850) 422-7742
This email address is being protected from spambots. You need JavaScript enabled to view it.

Local Economy Gets Blown Sideways in September Employment Glows as Other Inputs Get Shaded by Hurricanes

Tallahassee, FL – The Tallahassee Economic Index (TEI), the city’s top economic growth indicator, today released numbers ending September 2017.TAfter a 6.29 point advance in August, September gave back 2.96 points.

“The Index saw a moderate decline in September led down by both business and consumer spending segments and a reversion in housing ” said TEI Founder Brett F. Ewing. “However, there was some hope found in the results. Initial claims for reemployment assistance hit an all-time low in September and continue to show just how strong the employment situation is in Leon County. Another positive can be seen in lumber sales with September marking the eighth straight month of growth.

The Index moved down 2.96 points, from 53.52 in August to 50.56 in September.

“The first month of Fall brought a slight pullback in the TEI as Tallahassee’s economy took a break in September, perhaps due to weather,” said Lance Mitchell, Director of Research at the TEI. “We had a month where real estate weighed heavily on the Index as Realtor Sales and Median Sales Price dropped on a month over month and year over year basis for the first time since early 2014. New Construction Permits also plunged in September. This disappointing data was almost assuredly hurt by the hurricane and should bounce back in October.”

  • Airport Traffic declined 5.04 percent from last month, and 5.61 percent from this time last month
  • New Construction Permits dropped 63.16 percent from August, and 77.05 percent from last September
  • Initial Claims for Reemployment Assistance hit an all-time low, plunging 21.99 percent MoM, and 24.05 percent YoY
  • Median Home Sales Prices slid by 6.67 percent MoM, and 2.33 from September of 2016
  • Realtor Sales dipped 28.52 percent from last month, and lost 5.8 percent from this time last year

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.

Copyright © 2019 Tallahassee Economic Index C/O First Franklin Advisors, LLC
Site Design By OCCS