Brian Mudd

Brian Mudd

There are two sides to stories and one side to facts. That's Brian's mantra and what drives him to get beyond the headlines with daily stories driven...Full Bio

 

Florida's Impressive Economy

It’s hard to overstate just how impressive Florida’s economy has been. By now you’ve known that it’s not just your personal economy which has taken a hit via the death of a thousand cuts with 41-year high inflation. It’s been the country as a whole. The US economy shrank by 1.6% in the first quarter of the year. And more recently, the Atlanta Federal Reserve – which keeps the most accurate economic projection tool in economic circles – is saying it was only worse last quarter with a decline of 2.1%. What this means is that on July 28th, the day the initial 2nd quarter economic estimate drops, you'll likely hear the confirmation that the US economy is in a recession. But while the US economy has been shrinking for the first half of the year, what has Florida’s economy been doing? Surging. Florida’s monthly revenue report, which I get it, just the name sounds boring – was anything but. The state’s latest monthly revenue report shows revenue nearly $742 million or 22%, above estimates. What’s more – net revenue to the state of Florida increased by 22.8% year-over-year. To put this in perspective, Florida is the third biggest state in the country, and our economy has most recently, stunningly outperformed the national average by an approximate 25%! Florida’s economy has been the best relative performer nationally over the past year but even that reality doesn’t do our state’s story justice. The pandemic highlighted the differences state policy has on our economies and our lives like nothing else before. It’s hard to overstate just how impressive Florida’s economy has been

Florida FL Money Map Cash Economy Dollars 3d Illustration

Photo: Getty Images


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