Sunshine State on brink of recession, says noted economist

The Sunshine State is on the cusp of a recession — if it hasn’t already started.

That’s the opinion of Sean Snaith, an economist who serves as director of the University of Central Florida’s Institute for Economic Forecasting, in his quarterly forecast. However, the impact of a downturn won’t be as severe as the housing market collapse of the late 2000s or the pandemic shutdown of 2020.

“Florida can’t escape a recession,” Snaith says in a news release. “But we won’t suffer like we did during the previous two. If Florida’s economy had been a hospital patient during 2020 or in 2008-09, its condition would have been somewhere between serious and critical. This time around, it will be good or stable — and probably even closer to good.”