UCF's Snaith: Economy turns corner in 2011

    A leading Florida economist sees the Sunshine State turning a corner in 2011, with a weak recovery gaining steam and the downturn left behind as a painful — albeit lingering — memory, the Miami Herald reports.

    “From this point on, things are just going to get better,” said Sean Snaith, a University of Central Florida economist. On Tuesday, he issued an economic forecast for South Florida that predicts stronger growth in personal income and employment than he predicted just three months ago. “The bottom has been touched.”

    A crafter of economic sound bites -- in the spring he issued a press release comparing Florida's anemic recovery to the Foghat hit, Slow Ride -- Snaith's sunnier tone captures a broader mood shift.
    The past several months saw stock market gains, strong Christmas sales, Wall Street optimism over Washington’s latest tax package and a general sense that the grueling recession was loosening its grip on the economy.
     Snaith said his more bullish forecast came thanks to improved consumer confidence, predictions of higher economic growth nationwide in 2011 and the recent extension of the tax cuts approved under President George W. Bush’s administration.
     “You’re starting to see the numbers” of a growing economy,” said Tony Villamil, dean of the school of business for St. Thomas University. In particular, Villamil said, Florida’s exports have grown steadily this year, international tourism picked up steam in the Sunshine State as the U.S. dollar weakened and taxable sales are growing again.
      “I do feel there is reason for cautious optimism,” he added.