1. Back to the Future Anirban Basu, Chief Economist, ABC January 2011 On Behalf of: ABC – Central Florida

2. The Big Chill

3. Historic and Projected World Output Growth 2004 through 2011* Source: International Monetary Fund *2010-2011 data are projections

4. Estimated Growth in Output by Select Global Areas 2010 Projected Source: International Monetary Fund

5. Estimated Growth in Output by Select Global Areas 2011 Projected Source: International Monetary Fund

6. Top 12 Stock Exchanges 2008 Growth RankExchangeIndex2008 % Change 3London SEFTSE 100-31.3% 1NYSE GroupDJI A-33.8% 12Swiss ExchangeSwiss Market-34.2% 9TSX GroupS&P TSX Composite-35.4% 2NasdaqNASDAQ Composite-39.6% 8Bolsa De MedridMadrid General-40.0% 6Frankfurt SEDAX-40.2% 4Tokyo SENikkei 225-41.5% 5EuronextCAC 40-42.6% 11Hong Kong ExchangesHang Seng Index-47.9% 10Borsa ItalianaMIBTel-48.5% 7Shanghai SEShanghai Composite-65.4% Source: Yahoo! Finance

7. Top 12 Stock Exchanges 2009 Growth RankExchangeIndex2009 % Change 7Shanghai SEShanghai Composite 77.2% 11Hong Kong ExchangesHang Seng Index 51.4% 2NasdaqNASDAQ Composite 43.7% 9TSX GroupS&P TSX Composite 31.2% 6Frankfurt SEDAX 29.9% 1NYSE GroupDJI A 26.8% 8Bolsa De MedridMadrid General 26.7% 3London SEFTSE 100 22.1% 5EuronextCAC 40 21.5% 10Borsa ItalianaFTSE MIB 19.5% 12Swiss ExchangeSwiss Market 18.4% 4Tokyo SENikkei 225 16.6% Source: Yahoo! Finance

8. Top 12 Stock Exchanges 2010 Growth RankExchangeIndex2010 % Change 2NasdaqNASDAQ Composite 16.9% 6Frankfurt SEDAX 16.1% 9TSX GroupS&P TSX Composite 14.4% 1NYSE GroupDJI A 11.0% 3London SEFTSE 100 9.0% 11Hong Kong ExchangesHang Seng Index 5.3% 12Swiss ExchangeSwiss Market -1.7% 4Tokyo SENikkei 225 -3.0% 5EuronextCAC 40 -3.3% 10Borsa ItalianaFTSE MIB -13.2% 7Shanghai SEShanghai Composite -14.3% 8Bolsa De MedridMadrid General -19.2% Source: Yahoo! Finance

9. Ferris Bueller’s Day Off

10. Source: Moody’s Economy Recession Watch as of May 2009

11. Industrial Production January 2001 through December 2010 Source: Federal Reserve The industrial production index measures the real output of the manufacturing, mining, and electric and gas utilities industries.

12. Gross Domestic Product 1990Q1 through 2010Q3 Source: Bureau of Economic Analysis

13. Source: Moody’s Economy Recession Watch as of April 2010

14. Source: Moody’s Economy Recession Watch as of November 2010

15. Source: Bureau of Labor Statistics Net Change in U.S. Jobs, BLS January 2001 through December 2010 12/10: +103k Between December 2009 and December 2010, the nation gained 1.1 million jobs.

16. Source: Bureau of Labor Statistics National Initial Unemployment Claims, 4-week moving average Seasonally adjusted January 2001- December 2010

17. Source: Bureau of Labor Statistics National Private Sector Job Openings, SA January 2001 through November 2010 November 2010: 3,248 October 2010: 3,328 November 2009: 2,456

18. Source: Bureau of Labor Statistics Unemployed Workers per Private Sector Job Opening, SA January 2001 through November 2010 November 2010: 4.6 October 2010: 4.5 November 2009: 6.2

19. Source: Bureau of Labor Statistics National Nonfarm Employment by Industry Sector Groups December 2007 v. December 2010 All told 7,239K Jobs Lost

20. Source: Bureau of Labor Statistics National Nonfarm Employment by Industry Sector Groups December 2009 v. December 2010 All told 1,124K Jobs Gained

21. National Construction Employment Monthly Net Change February 2000 – December 2010 Source: Bureau of Labor Statistics

22. Florida Nonfarm Employment by Industry Sector Groups (SA) December 2009 v. December 2010 Absolute Change Source: Bureau of Labor Statistics FL Total: +43.5; +0.6% US Total: +1,124K; +0.9%

23. Orlando-Kissimmee-Sanford, FL MSA Nonfarm Employment by Industry Sector Groups (NSA) December 2009 v. December 2010 Absolute Change Source: Bureau of Labor Statistics Orlando Total: +10.8K; +1.1% FL Total: +43.5; +0.6% US Total: +1,124K; +0.9%

24. Tampa-St. Petersburg-Clearwater, FL MSA Nonfarm Employment by Industry Sector Groups (NSA) December 2009 v. December 2010 Absolute Change Source: Bureau of Labor Statistics Tampa Total: +1.7K; +0.2% FL Total: +43.5; +0.6% US Total: +1,124K; +0.9%

25. Unemployment Rates, Largest 20 Metros(NSA) November 2010 Source: Bureau of Labor Statistics RankMSAURRankMSAUR 1 Washington-Arlington-Alexandria, DC- VA-MD-WV6.011Seattle-Tacoma-Bellevue, WA9.1 2 Minneapolis-St. Paul-Bloomington, MN- WI6.512St. Louis, MO-IL9.5 3Boston-Cambridge-Quincy, MA-NH7.413 Atlanta-Sandy Springs-Marietta, GA10.3 4Baltimore-Towson, MD7.813 San Francisco-Oakland-Fremont, CA10.3 5Dallas-Fort Worth-Arlington, TX8.215 San Diego-Carlsbad-San Marcos, CA10.4 6 New York-Northern New Jersey-Long Island, NY-NJ-PA8.516Detroit-Warren-Livonia, MI12.0 6Phoenix-Mesa-Glendale, AZ8.517 Los Angeles-Long Beach-Santa Ana, CA12.1 8Houston-Sugar Land-Baytown, TX8.617 Miami-Fort Lauderdale- Pompano Beach, FL12.1 8 Philadelphia-Camden-Wilmington, PA- NJ-DE-MD8.619 Tampa-St. Petersburg- Clearwater, FL12.6 10Chicago-Joliet-Naperville, IL-IN-WI9.020 Riverside-San Bernardino-Ontario, CA14.3

26. Source: Bureau of Labor Statistics U.S. Unemployment Rate: November 10’ =9.8% Unemployment Rates, U.S. States (SA) December 2010 RankStateRateRankStateRateRankStateRate 1NORTH DAKOTA3.818ARKANSAS7.935IDAHO9.5 2NEBRASKA4.419LOUISIANA8.035INDIANA9.5 3SOUTH DAKOTA4.620ALASKA8.135MISSOURI9.5 4NEW HAMPSHIRE5.521MASSACHUSETTS8.238OHIO9.6 5VERMONT5.821NEW YORK8.238WEST VIRGINIA9.6 6IOWA6.323TEXAS8.340DISTRICT OF COLUMBIA9.7 7HAWAII6.424DELAWARE8.541NORTH CAROLINA9.8 7WYOMING6.424NEW MEXICO8.542MISSISSIPPI10.1 9VIRGINIA6.724PENNSYLVANIA8.543GEORGIA10.2 10KANSAS6.827COLORADO8.844KENTUCKY10.3 10OKLAHOMA6.828CONNECTICUT9.045OREGON10.6 12MINNESOTA7.029ALABAMA9.146SOUTH CAROLINA10.7 13MONTANA7.229NEW JERSEY9.147RHODE ISLAND11.5 14MAINE7.331ILLINOIS9.348MICHIGAN11.7 15MARYLAND7.431WASHINGTON9.349FLORIDA12.0 16UTAH7.533ARIZONA9.450CALIFORNIA12.5 16WISCONSIN7.533TENNESSEE9.451NEVADA14.5

27. Florida MSA’s Unemployment Rates November 2010 Source: Bureau of Labor Statistics RankMetropolitan AreaUE RateRankMetropolitan Area UE Rate 1Gainesville, FL8.79 Tampa-St. Petersburg-Clearwater, FL12.6 2Tallahassee, FL9.011 Deltona-Daytona Beach-Ormond Beach, FL12.8 3 Pensacola-Ferry Pass-Brent, FL11.112Punta Gorda, FL12.9 4Jacksonville, FL11.613Cape Coral-Fort Myers, FL13.3 4Panama City-Lynn Haven, FL11.613Lakeland, FL13.3 6Orlando-Kissimmee, FL11.915Port St. Lucie-Fort Pierce, FL14.3 7 Miami-Fort Lauderdale-Miami Beach, FL12.116Sebastian-Vero Beach, FL14.5 8Naples-Marco Island, FL12.417Ocala, FL14.6 9 Palm Bay-Melbourne- Titusville, FL12.6

28. Trading Places

29. 15-Year & 30-Year Fixed Mortgage Rates January 1995 through December 2010 Source: Freddie Mac

30. U.S. New Home Sales January 1999 through November 2010 Source: Economy.com, Census Bureau

31. U.S. Housing Starts January 1999 through December 2010 Source: Economy.com

32. Mortgage Banker’s Association Mortgage Applications Purchase Index January 2006 through December 2010 Source: Economy.com

33. Source: The American Institute of Architects Architecture Billings Index December 2007 through December 2010

34. Source: ABC ABC’s National Backlog Average November 2008 through September 2010 Sept. 09 – Sept. 10: +13.7%

35. Nonresidential Construction Put-in-Place June 2006 through November 2010 Source: U.S. Census Bureau November 2010: TypeValue% Oct-10% Nov-09 Private$256.1-0.1%-16.5% Public$307.40.6%3.3% Total$563.40.3%-6.8% Oct. 08: $719.0 billion Nov. 10: $563.4 billion -21.6%

36. National Nonresidential Construction Spending by Subsector November 2010 v. November 2009 Source: U.S. Census Bureau

37. Inputs to Construction PPI January 2001- December 2010 Source: Bureau of Labor Statistics

38. Key Commodity Prices January 2001- December 2010 Source: BLS: EIA

39. Die Hard

40. U.S. Retail & Food Services Sales January 2001 through December 2010 Source: Census

41. U.S. Chain Store Sales Growth by Type of Store November 2009 v. November 2010 Source: Economy.com

42. National Vehicle Sales January 2004 through December 2010 (SAAR) Source: Autodata Corp.

43. U.S. Federal Budget Deficit 1995-2012* Source: Congressional Budget Office *2010-2012 data are projections

44. Source: Center on Budget and Policy Priorities RankState%RankState%RankState% 1Illinois50.9%18Missouri14.4%35Massachusetts6.4% 2New Jersey37.4%19Mississippi14.1%36Iowa5.6% 3Nevada37.1%20Wisconsin12.8%37West Virginia4.1% 4South Carolina26.6%21Idaho12.6%HawaiiNA 5Oregon25.0%22Maryland12.2%OklahomaNA 6Minnesota24.5%23Ohio11.0%TennesseeNA 7Texas22.3%24Florida10.4%States Total18.9% 8California22.2%25Vermont10.4% 9Louisiana22.0%26Georgia10.3% 10Connecticut20.8%27Rhode Island9.9% 11North Carolina20.0%28Pennsylvania9.7% 12Washington18.5%29Nebraska9.2% 13New York16.9%30Kentucky9.1% 14Arizona16.6%31Kansas8.8% 15Maine16.1%32Montana8.3% 16Colorado15.3%33New Mexico7.6% 17Virginia14.8%34Michigan6.5% Projected State Budget Shortfalls for FY 2012 As Percentage of FY 2011 Budget Alabama, Alaska, Arkansas, Delaware, D.C, Indiana, New Hampshire, North Dakota, South Dakota, and Wyoming are not projected to have budget shortfalls in 2012. Note: Kentucky and Virginia have two-year budgets. They closed their FY2012 shortfalls when they enacted their budgets for the FY2011-FY2012 biennium. Combined gaps of $113 billion for 2012.

45. Return to Oz Stimulus, stimulus, stimulus; We’ve seen the worst of it from a broader economic perspective; Too soon to tell if broad inflation domestically or globally will be problematic; Election results will be good for economy because gridlock is desirable, at least to a certain extent; Global economy on the mend for now; Commodity price surges remain a threat; 2011: GDP 3.0%-3.5%; 1.6M jobs; US UE stays above 9%; 2012????