Based to the newest data is Florida the third most populated state in the United States. Florida follows the States California and Texas. Besides the population increases the economy grows too. After six tough years the state economy grows by 2.4 percent and it is forecasted that in 2014 the economic growth will be 3.5 percent and 2015 it is even better. The forecast is 4 %.This economic growth is predicted for the following industries: housing, retail, tourism, professional and business services.
Based on the population growth there is a high demand for new construction and this industry will grow. It is expected that the North East and Southwest Florida will have the biggest growth in construction.
Based on these overall economic conditions people starts to go on vacation again. This will also will stimulus the tourism in this area. This growth will lead to new investments. These investments normally need financing. It is expected that the Federal Reserve will keep the interest rates on a low level to stabilize the economy recovery.
With the investment and the economic growth, business will hire new employees. Today the unemployment rate is seven percent nationwide and based on the today’s economic development it is predicted that the unemployment rate will decrease to 6.5 % in 2014 and will go back to 5.8 % in 2015.
The Federal Reserve decision for low interest rates makes stocks more interesting for investors. That is already shown by the stock market with its today’s numbers. The inflation is also on a very low level – 0.7 % and is forecasted to stay below 2 % until 2015.
This is a very positive prediction for 2014 and therefore have a great successful start in the New Year.