The Tallahassee Economic Index (TEI) rose 7.90 points to 71.52 in September, following a 8.23 point increase in August, and a .56 point decrease in July.
Said Brett F. Ewing, Founder of the Tallahassee Economic Index:
“After a modest first half of 2015, the TEI has really taken off over the last two months. Led by continuing strength in new construction permits and plunging initial claims for reemployment assistance the local economy seems to be gaining momentum and headed back into growth mode. With the improving employment outlook this should be a continued trend through the end of the year.”
“The TEI rallied hard again in the month of September as we put our first two month winning streak together in over a year mostly on the back of a strong consumer” said Lance Mitchell, Director of Research at the TEI. “Home furnishings, furniture, and apparel all saw sharp month over month & year over year gains as lower gas prices & higher wages are finally starting to see their way into discretionary spending.”
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.