State economists say Florida’s economic outlook is getting worse due to the “double-whammy” of the national recession on top of the state’s housing slump.
The economists met Monday to make another downward shift in their economic outlook for the state. That’s only going to make a bad budget situation worse for Florida lawmakers, who begin their annual 60-day session on Tuesday.
Legislative economist Amy Baker said it now looks like the national recession is going to last through the end of this summer, a quarter longer than previously forecast.
Florida’s economy, though, is expected to remain flat for another year after that because it was affected more than the nation as a whole by the housing decline.
Source: tallahassee.com
