Signs of economic recovery growing locally

The good news is the bad news is getting better.

June retail sales in the Pensacola Bay Area turned in the fourth-best performance among Florida's 20 major metropolitan areas, slightly trailing only Fort Walton Beach, Panama City and Melbourne.
Although still down 2.3 percent over same month in 2008, June's $453 million in taxable retail sales was a $60 million improvement over April's figures, and $33 million better than in May.
University of West Florida economist Rick Harper said the strong showing by Pensacola and Panhandle cities is due in large part to its huge military payroll.
"The fact that Pensacola, Fort Walton and Panama City had among the least bad retail sales and unemployment numbers across the state, is consistent with the fact this region has one of the heaviest shares of government and military employees," Harper said.

*** When parts of Florida pick up, it is a good sign for neighboring states. It shouldn't be long before housing picks up and the demand for lumber, plywood, OSB and other building materials increase. This is good news for every building material supply and lumber yard left standing. Reid Adams www.coferadams.com
www.coferadams.net