Florida in Recesssion

Pretty short article from the AP today announcing what we already know, Florida is in a recession. No data to support it, no figures no facts, just the statement that we are in recession from economists at Wachovia. In a way, it's kind of refreshing to not have all the facts and figures behind the statement, just that our economy is in a sharp decline. Do we really need them anyway? Anyone with business in the state can pretty much see it everyday already. Ask a leasing agent or regional or vendor and they will tell you that yes, business is hurting and the economy is in a downturn. Want to call it a recession? Ok, if we must label it.

It all seems very daunting particularly in light of the news yesterday that the Tampa area was 2nd in the nation in growing unemployment. Not. Good. Times. And yes, we do believe that economics is largely a mental game. If you don't, then see the Consumer Confidence Index. Notice the chart. Down = bad. However, reality is reality and in this case we are in a recession.

Makes me kinda long for the 80's.

Wachovia economists say state is in recession (TBO.com)