MIAMI-While the economy of Florida is growing, the rate of growth is slower than most states, according to an index released the Federal Reserve.
The Fed index shows that Florida's economy grew by a 1.9% rate in June as compared to a year earlier. That growth rate was below the average 2.2% monthly growth rate Florida recorded in 2012. The Federal Reserve Bank of Philadelphia compiled the index.
For the month of June, Florida's growth rate ranked no. 39 among the 50 states and the District of Columbia. The state of Iowa earned the top spot with a 4.4% growth rate in June. The state of Alaska earned the 51st position with a 2.1% drop in economic growth. See story in the Miami Herald.
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