ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
Sean Snaith expects a slowdown or recession ahead for the national economy in late 2023/early 2024— but he said Florida is better prepared than before.
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The director of the University of Central Florida Institute for Economic Forecasting said in the institution’s recently released forecast that he is unsure if it will rise to the level of a recession — and it would come after a projected early 2022 recession the institute forecast and is waiting on data to confirm.
However, he told Orlando Business Journal that Florida and the Orlando region are much better suited to weather this slowdown than the recessions in 2008-09 and 2020. Factors that bode well for both the state and metro area include the lack of a housing market collapse — with prices rising for a different reason — as well as population growth and a strong labor market.
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