Region's economy to shrink further

Central Florida's incredible shrinking economy will continue its vanishing act this month, according to the Sentinel's Central Florida Economic Index.

All five measures are expected to once again post year-over-year declines, another sign the recession, while easing in some respects, is still settled over Central Florida. The overall index, a rolling projection of local economic activity, is expected to fall 9.38 percent this month from June 2008.

The construction-industry index remains the big loser, with residential building permits projected to decline more than 56 percent from last year at this time. The index projects 682 permits will be issued, fewer than half of the total issued in June 2008.

Hotel-tax collections are projected to come in at $13.5million, a decline of 33.6 percent from last year. Tourist taxes have been declining for a year.Full Story