Sandra Averhart

In this week’s Economic Report, Dr. Rick Harper reflects on Blue Angels weekend on Pensacola Beach. ‘Red, White and Blues Week’ follows the Fourth of July holiday weekend, which provides a critical boost to the local tourism industry over a stretch of about a week-and-a-half.

In this week’s Economic Report, Dr. Rick Harper discusses the importance of the month of July to Northwest Florida’s tourism industry.

“In our climate zone, July is far and away the biggest month. It’s the month in which hoteliers and restaurateurs are able to charge top dollar, keep the place full. That’s when they pack away the profits they’ll need to make their lease or mortgage payments throughout the rest of the year,” says Harper, who adds that there are indications that it’s a good July this year.

Update: 

Secretary Hagel got a chance to sit in the cockpit of an F-35 jet, and in the Air Force hangar of the 33rd, stood before an aircraft with his name painted on the side as he made brief remarks to about 100 military personnel. He called the F-35 a critical part of the future of the nation’s defense.

"This is as big a project, the F-35, that we have at the Department of Defense; we have a lot riding on this aircraft," said Sec. Hagel, who noted that the U.S. military and its eight partner countries have a lot invested in the $400 billion dollar jet.

350 Pensacola hosted a talk this week on climate change and why there’s such a deep divide over the issue. The event was held Tuesday, July 7 at the Bayview Senior Resource Center. Larry Chamblin, a local climate activist and member of 350 Pensacola, made the presentation, titled: “Public Opinion, Politics, and the Challenge of Communicating Climate Change.”

“It’s a huge challenge,” says Chamblin, referencing the split public opinion.

In this week’s Economic Report, Dr. Rick Harper discusses the latest first quarter revision of the gross domestic product (GDP).  According to the Bureau of Economic Analysis, GDP shows a 2.9% drop in the annual rate in January through March, the weakest quarter for the U.S. economy since the Great Recession.