Tallahassee, FL – The Tallahassee Economic Index (TEI), the city’s top economic growth indicator, today released numbers ending September 2017.TAfter a 6.29 point advance in August, September gave back 2.96 points.
“The Index saw a moderate decline in September led down by both business and consumer spending segments and a reversion in housing ” said TEI Founder Brett F. Ewing. “However, there was some hope found in the results. Initial claims for reemployment assistance hit an all-time low in September and continue to show just how strong the employment situation is in Leon County. Another positive can be seen in lumber sales with September marking the eighth straight month of growth.The Index moved down 2.96 points, from 53.52 in August to 50.56 in September.
“The first month of Fall brought a slight pullback in the TEI as Tallahassee’s economy took a break in September, perhaps due to weather,” said Lance Mitchell, Director of Research at the TEI. “We had a month where real estate weighed heavily on the Index as Realtor Sales and Median Sales Price dropped on a month over month and year over year basis for the first time since early 2014. New Construction Permits also plunged in September. This disappointing data was almost assuredly hurt by the hurricane and should bounce back in October.”