In this week’s Economic Report, Dr. Rick Harper discusses the third quarter Gross Domestic Product, which reflected an increase of 2.85 percent, stronger than the second quarter GDP estimate of 1.9 percent.
Harper credits the increase with growth in inventory investment and in structures and residential investments.
Additionally, payroll provider ADP reports that Florida’s growth in private sector jobs has slowed to about 8500 jobs in September. Harper says that’s still short of pre recession levels of about 13,000 new jobs per month.
And, Harper has analysis of the recently announced distribution of state Defense grants. The Greater Pensacola Chamber of Commerce is slated to receive $200 thousand to kick start development of a new research center at NAS Corry Station. Dr. Rick Harper is Director of the University of West Florida Office of Economic Development and Engagement. He’s currently serving as Senior Economic Policy Advisor to the Florida Senate.