Published on August 4, 2023 at 12:21 pm
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Rising interest rates are dampening the economic outlook for the Jacksonville area, according to a monthly survey by the University of North Florida’s Local Economic Indicators Project.
The university’s Jacksonville Economic Monitoring Survey of Northeast Florida manufacturing companies found nine of 12 indicators contracting in July.
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In a report on the Jacksonville survey, UNF economist Albert Loh said the Federal Reserve Board’s policy of increasing interest rates to curb inflation is likely leading to pessimism among manufacturers.
Read the rest of this story at the Jacksonville Daily Record, a Jacksonville Today news partner.
