A report from Florida TaxWatch
2015 economic preview for Florida
The Florida economy is expecting a sunny year.
Florida TaxWatch, the state's nonpartisan, nonprofit public policy research institute and government watchdog group, expects another year of economic growth and recovery in 2015, according to their 2015 Economic Preview. The independent analysis reports that Florida's economy will grow faster than the nation and Florida employment is expected to outpace the nation again in 2015.
"Florida had a very successful year in 2014, as shown by our state's latest revenue increases and jobs numbers, and Florida's economy and job growth should keep climbing in 2015," said Dominic M. Calabro, President and CEO of Florida TaxWatch. "Florida is making the right economic investments and we are consistently beating the rest of the nation in development and growth. Even our latest population numbers show that people want to be a part of what we're doing here in Florida."
From the report:
As we begin 2015, Floridians have plenty of reasons to be optimistic about the economy. After a year of solid job growth, declining unemployment, and high consumer confidence, the Florida economy is expected to continue to strengthen in 2015.
Florida’s real gross state product is projected by the University of Central Florida (UCF) to grow 2.7 percent, with IHS Global Insight estimating 3.7 percent growth, and J.P. Morgan Chase projecting an even higher 4.2 percent. All three reports expect Florida to grow faster than the nation.
UCF has also projected real personal income to grow by 3.4 percent in 2015, and the latest available Florida Leading Index, produced by the Federal Reserve Bank of Philadelphia, proposes an expansion of the state’s economy through April 2015. The latest Revenue Estimating Conference revisions and record-low gas prices also suggest that Floridians will begin 2015 with more disposable income, likely resulting in an increase in consumer spending, which in turn increases tax revenues. . . .
Florida TaxWatch is a statewide, non-profit, non-partisan research institute that over its 33-year history has become widely recognized as the watchdog of citizens' hard-earned tax dollars. Its mission is to provide the citizens of Florida and public officials with high quality, independent research and education on government revenues, expenditures, taxation, public policies and programs and to increase the productivity and accountability of Florida state and local government. Its support comes from homeowners and retirees, small and large businesses, philanthropic foundations, and professional associations. On the web at www.FloridaTaxWatch.org.