Jeff Ostrowski
Alexandra Clough
Home > Real Time > Archives > 2007 > September > 27 > Entry
How good was 2005? Feds remind us again (thanks a lot)
As if we needed another reminder of just how superheated the Florida economy became at the height of the real estate boom, the U.S. Bureau of Economic Analysis gives us its new snapshot of economic growth by metro area.
In the past, BEA had broken down the numbers only to the state level. The good news from the new study: Florida cities were booming. The bad news: In 2005.
BEA’s data is two years old, and it shows Florida cities dominating the rankings. Palm Coast’s gross domestic product soared 19 percent from 2004, ranking it No. 1 nationally. Port St. Lucie was up 12 percent, rating No. 3.
Palm Beach County is lumped in with Miami and Fort Lauderdale, where 6.7 percent growth ranked 37th of 363 metro areas.
New Orleans was dead last; it was hit by Katrina in ‘05.
The areas in dark blue (that’s us) were the economies shot up with housing HGH, construction creatine and mortgage steroids. With the housing slowdown nearly two years old, it’s safe to say our rankings in ‘06 and ‘07 won’t be quite so bulked up.
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