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South Florida

Miami

Key Takeaways for Your Region

  • The U.S. economy’s projected slowdown in 2024, and, in particular, contraction in the Trade and Transportation and Business Services sectors, may blow headwinds toward South Florida, yet the area’s strong Finance and Real Estate sector and its status as a global destination for business and people bolster its long-term economic prospects.
  • Like most of the country, South Florida has a housing affordability challenge; still, the EMA’s promising housing permit data shows positive growth even as the nation’s construction sector is expected to contract.
  • South Florida’s comparatively small Manufacturing sector is actually a favorable indicator in 2024, as manufacturing is projected to slow down considerably nationwide this year.

Contributors

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Fifth Third Bank

Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at...

www.53.com
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Kenan Institute of Private Enterprise

We develop and promote innovative, market-based solutions to vital economic issues. With the belief that private enterprise is the cornerstone of a prosperous and free society, we foster the entrepreneurial spirit to stimulate economic prosperity and improve the lives of people in North Carolina, across the country and around the world.

www.kenaninstitute.unc.edu

Notices & Disclosures: The opinions expressed herein are those of Fifth Third and the Kenan Institute collaboratively and may not actually come to pass. This information is current as of the date of first publication and is subject to change at any time based on market and other conditions. This information is intended for educational purposes only and does not constitute the rendering of investment advice or research, or specific recommendations on investment activities and trading.
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