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PRESENTATION OF DATA 20 <br /> boost employee loyalty. Businesses continued to cite little input cost pressure and limited <br /> pricing power, with some notable exceptions in commercial construction, transportation, real <br /> estate, and food. The Atlanta Fed's December survey of business inflation expectations <br /> indicated that firms' year-ahead unit cost expectations were essentially unchanged at 1.9 <br /> percent. Contacts also expressed a slight shift in their assessment of labor cost pressures <br /> over the coming year with a growing number of firms reporting acceleration in compensation <br /> budgets for 2015. Some firms conveyed they were increasing starting pay or planning to <br /> move above minimum wage in an effort to attract and retain their workforce. Conversely, <br /> several employers also reported that where possible, they were holding down base pay and <br /> instead adding benefits or performance bonuses. <br /> Natural Resources and Agriculture — Supply of crude oil and natural gas continued to <br /> outpace demand, leading to high inventory levels across the Gulf Coast. Industry contacts in <br /> the energy sector reported that the downturn in the price of oil has influenced their outlook <br /> and strategic planning for 2015, including a heightened focus on cost management, more <br /> prudent investments, and faster, more efficient drilling techniques. Exploration and <br /> production firms shared plans to continue drilling operations across the Gulf Coast and in <br /> Louisiana in 2015, though they intend to approach projects more cautiously. The same goes <br /> for oil service companies in the region, which are evaluating cost reduction strategies if low <br /> energy prices are sustained. While the District experienced varying degrees of drought <br /> ranging from abnormally dry conditions to a few areas of severe drought, some areas of <br /> Alabama, Georgia, and the Florida panhandle saw some moderate improvement in drought <br /> conditions. Protein producers that rely on corn for feed reported improved margins because <br /> of continuing low corn prices. The most recent cotton and orange crop forecasts were slightly <br /> higher than last season's production. <br /> Source: The Summary of Commentary on Current Economic Conditions(The Beige Book) <br /> Florida Market <br /> Snapshot <br /> FLORIDA MARKET MSA SNAPSHOT <br /> A6A Population Office SF Industrial SF SF Home Sates Inc, agIgffiQ Seaport <br /> Median Age Vacancy Vacancy Median SP Inc. Domestic/Mtn Flights Tonnage... <br /> Orlantlo _ _ 2.225.]30 100.4 trillion 1]B Mllllon +6 4% Orlando lSrI Port Canerval <br /> 33.] 12.10% 9.50% X20% 8138 3.87 million <br /> - �Includes Orlantlo.Klssimree antl San/ortl <br /> Sabah Florida ,5,429.191 189 rr110on 319 n1111on +2].34 14arr1 Inn Port Miami <br /> 41.1 1].60% ].30% +21.4% 48/93 ].98 trillion <br /> 1 Fort Laudertlale InY1 Port Evervlades <br /> 31 —- 58/42 22.45 trillion <br /> •1 <br /> I i 54+40+Mlart,Fort a dertlale antl West Palm Beall Palm Beach Intl Port of Palm Beach <br /> 23/4 2 14 Milton <br /> Tamp Bay 870 588 271+11110+ Tanya rt Port Tanya Bari <br /> 414 142.50%n 940% +121% 'ro 63/t'2 r 34.9 trillion <br /> lodes Tarrpa,5[.Peterspur9 and Clearwater <br /> Jacksonvi ^" 1 384 824 62,4 trod 12,3 trilpon .21 1% lax Intl Almon Port M Jacksonville <br /> 3J8 1240°h 8.90% 13% 21/1 24.2 trillion <br /> • <br /> a+ F! Includes Baker.Gay,Duval and St Johns counties <br /> Source SFBJ <br /> Clobus, McLemore & Duke, Inc. <br />