Florida is on the cusp of a recession if not already in one according to the latest forecast from University of Central Florida economist Sean Snaith. That's the bad news.
"The good news if you're looking for some," Dr. Snaith said, "is that this recession is not going to resemble the previous two that we've gone through here in Florida in 2020 and 2008 and 2009."
Snaith predicts it'll resemble a pasta bowl.
"A pasta bowl isn't a deep dish. It's shallow sides, a flat bottom and then a shallow opposite side."
The recession will linger around for six months or so but the depth won't be anywhere near as dramatic as those earlier recessions. Dr. Snaith says inflation will continue to decline but won't hit the 2% target level this year.
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