By Sunny Isles Real Estate Expert on May 17th, 2012
Florida businesses have seen an upsurge in activity, as people become more confident in the direction that the economy is heading. According to data released by the Florida Department of Revenue, sales records were broken in the month of January, and a 12.5% jump was recorded for the first time since 2006. Florida businesses are seeing the best year that they have in the past half-decade, and they recently reported $71.6 billion in net profits in the month of January. Businesses that reported the strongest returns were service firms, wholesalers, and electronics providers.
While these figures show a promising shift in the economy, all sectors are not rebounding as quickly. The recovery has affected different sectors of the economy differently, and as such, some industries are not seeing as significant of a change as others. Some counties did not show significant sales increases, like Sarasota and Manatee counties, both of which reported only minimal increases in sales that were actually down from the prior year.
The hotel, retail, and auto industries all reported significant sales figures for the month of January 2012. With these figures showing significant increases in revenue for businesses in several different industries, economists are seeing that as a positive indication as to where the economy is headed in the future. With business sales soaring and the housing market showing sure signs of recovery, there are many reasons to believe that the business market and housing market alike will show significant promise in the future.
Miami Homes sales and Miami Condos sales figures
have been significantly on the rise in the beginning of 2012, and some analysts are predicting a sizeable increase in home values by the end of the year. With job growth and the expansion of businesses, the market is continuing to provide valuable insight into the stability of the economy. While there are many reasons that the economy may still be in recovery mode, there are also several indicators that seem to show that the economy is well on its way to recovery. Economists agree that the recovery is underway, but many believe that it will take quite a bit longer before the full recovery will take hold and Americans will feel the growth all across the country.
The Florida housing and business markets provide a glimpse into the type of recovery that can be expected to occur in other parts of the country in the coming months.