Florida CEO Trends
CEO Trends Survey Results and Reactions
The Economy in 2007, Emergent Issues, Property Values, Expanding Markets
Robert E. Hilson
Florida Market President
Bank of America
U.S. Economy in 2007
We expect the Florida economy to outgrow the U.S. economy in general. We are very bullish about our prospects for Florida next year and beyond. Tourism is very, very strong here, and transportation, utility and healthcare sectors continue to be strong as well.
I don't think it's any secret that residential construction spending is not at the robust level it was six to 12 months ago, but it's still a good sector to be in. Also, in the professional and business services base, I don't know if you'll see the same kind of growth we've seen in the last couple of years.
However, again, those sectors remain really strong in Florida. I do have a bias for this state. The weather is spectacular, and it will continue forever to be a driver of population growth. A low interest rate and low inflation will contribute to, I think, good solid growth in the economy next year, and that's very good for our company.