World Economic outlook - Florida Economic growth forecast 2012 : The number of new jobs created in 2012 will be the key to whether the economy grows or shrinks in the next 12 months.
In Florida, where the economic heights of the middle of the last decade were propped up on a booming housing industry, it is in the real estate market that many economists are looking to gauge whether the crash has reached its low point.
Despite stubbornly high unemployment – 10 percent in November in Florida – and months of low consumer confidence readings, retailers are predicting the largest year-over-year increase in holiday shopping since before the recession, a very welcome sign that things are on the upswing.
Growth, to be sure, will continue and 2012 will be an improvement over a largely disappointing 2011, but economic growth for the year will (be less than) 2 percent and payrolls will expand by just 1.8 percent….
"The near term economic picture for Florida is for a modest acceleration of the pace of recovery, including the labor market over the next two quarters
Much of Florida's fate is tied to the national economy – as it goes so go the local economies to a certain degree. In Florida, that link is particularly acute because of the state's reliance on people moving here, either in retirement or for new opportunities – when housing was booming, there was a stream of people moving to the state to take part in that boom – and people coming here on vacation.
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