Florida’s economy is resilient, but growing pains persist

Stronger than before

More than halfway through 2024, Florida’s economy remains strong, according to the Spring quarterly forecast reporton Florida’s economy authored by Sean Snaith, director of the University of Central Florida’s Institute for Economic Forecasting.

“The data that came in in the first quarter suggested things were even a little bit stronger than what we were originally forecasting for the year,” he said.

Snaith forecasts that compared to the national economy, the state’s real gross domestic product (GDP) will grow 1% faster, unemployment will remain one-tenth of a percentage point lower, and payroll job growth will be faster by 0.6%.