Florida economists assessing the state’s tourism, housing and labor sectors say the metrics add up to a post-pandemic economy poised for a boom.
But, they cautioned, it could go bust if COVID-19 positivity and hospitalizations are not quelled, labor shortages don’t dissipate and new home inventories aren’t boosted.
In a presentation Tuesday to Florida’s Economic Estimating Conference (REC), Vesselka McAlarney of the Legislature’s Office of Economic & Demographic Research (EDR) forecast Florida’s economy in the second quarter of 2021 exceeded pre-pandemic levels “due to faster than expected improvements in economic activity.”
The REC includes economists from state agencies, the Governor’s Office and the EDR who meet regularly to update economic projections. Lawmakers rely on EDR data and REC forecasts to build the state’s budget.