Florida Economic Recession, Miaim Beach Real Estate

Delay Foreseen in Florida Economic Recession

According to a new prediction, Florida’s economic recession will bottom out in the middle of next year. This is six months later than state officials formerly projected.

The forecast from the Florida Legislature's Office of Economic and Demographic Research brings the state's predictions in line with those of at least two nongovernment economists who offered similar outlooks last month.

Through the end of 2011, State forecasters also are forecast an unemployment rate near 11% with close to 1 million out-of-work Floridians. After seeing last week's reports of increased unemployment and foreclosure rates, they also pushed back their forecast for the start of the economic recovery by six months.