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Florida Economists Are Predicting An Economic Slowdown In 2020, But Don’t Expect A Recession

In this Wednesday, July 24, 2019 photo, the container ship Hansa Augsburg is shown docked at PortMiami in Miami. (AP Photo/Wilfredo Lee)
Wilfredo Lee
AP Photo

Florida’s top economists are anticipating an economic slowdown in 2020, but that doesn't mean a recession is on the horizon.

Florida has been riding a record-breaking economic boom for more than ten years, but state chief economist Amy Baker says that’s about to change.

“If we continue to escalate the imposition of tariffs and do more to heighten the trade policy tensions as a country—that would have a spillover effect into Florida,” Baker says. 

Baker points to international events like Brexit as possible causes of the slowdown.

“In an economic slowdown, it’s entirely probable that you’re going to have a positive growth rate. They’re just much lower than what you were seeing previously,” she says.

Baker says during a recession negative growth rates are expected. But she adds a slowdown doesn't mean a recession is coming.