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Florida economic forcast
By TIMES STAFF WRITERS
Published October 28, 2006
Signs point to a strong holiday season Lower energy prices and unemployment rates will help consumers spend more during the 2006 holiday season, says the inaugural U.S. forecast released Friday by the Institute for Economic Competitiveness at the University of Central Florida. According to institute director and UCF economics professor Sean Snaith: Housing starts will decline through 2008 as mortgage rates creep to 7.25 percent in 2009. "The feeding frenzy is over, and it is clearly now a buyer's market." Retailers will aggressively price holiday shopping goods. "Consumers will still be on the hunt for bargains and, with the exception of the latest Tickle-Me-Elmo, price will be the key factor as retailers compete for consumer dollars." Unemployment rates will remain below 5 percent through 2008. Payroll job growth will slow to 1 percent in 2007 before recovering to 1.5 percent in 2009.
[Last modified October 27, 2006, 23:52:17]
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