The Tallahassee Economic Index (TEI) fell 13.63 points to 62.33 in November, following a 4.44 point increase in October, and a 7.90 increase in September.
Said Brett F. Ewing, Founder of the Tallahassee Economic Index:
“This month’s decline looks like it’s widespread, as eight of the ten sales tax categories we track fell from the last month’s levels. We also saw a housing market slow down with median home sales price falling on a year over year basis and new construction permits fell to just 16 in November, compared to 23 in October. The next few months will be important to see if the deceleration continues or if this is just a one month blip.”
“After going through one of the best three month stretches in recent memory the TEI pulled back to the trend line in November” said Lance Mitchell, Director of Research at the TEI. “The numbers showed explainable slowdowns in apparel & accessories—which jive with national trends, but also show a more concerning slip in furniture & lumber. If the downward movement in the areas were to continue it would definitely be a concern for future growth.”
TEI Mission: To establish an index that tracks and predicts economic growth in the city of Tallahassee. This will be accomplished using data collected from official sources in Leon County.