Florida Consumer Confidence Dips After Election

November 28, 2012

Florida consumers’ confidence dropped in November after spiking to new highs in the previous two months, likely driven by gloom among those disappointed by the election, according to a University of Florida survey released Tuesday.

The consumer confidence rating of 76 this month was down four points from October, the university’s Bureau of Economic and Business Research said. People’s perceptions of their personal finances dropped year over year, as did expectations for their personal finances and expectations for the economy as a whole in the nation over the next year and the next five years. Respondents’ perceptions on buying bit ticket consumer items were unchanged.

“We expected a decline in consumer confidence for two reasons,” said survey director Chris McCarty. “The main reason for the decline was the outcome of the elections. Florida was the most divided state in the country, with President Obama winning by 73,309 votes. No matter who won, half of the state was not going to be happy with the outcome.”

McCarty said that since the economy was a central issue, half the electorate naturally thinks the election was bad for the economy.

“The other reason for the decline is the sudden burst of media coverage regarding the fiscal cliff,” McCarty said. The bureau said that generally economic indicators in the state remain relatively positive. Unemployment declined in October and housing stock is declining, increasing demand in the housing market. Gas prices are also down.

By The News Service of Florida

Comments

13 Responses to “Florida Consumer Confidence Dips After Election”

  1. Small Business Owner on November 29th, 2012 10:13 pm

    Well – ok – I don’t have to watch or listen ANY news outlet to see that:

    1) our phones aren’t ringing from potential customers (faxes are not coming in and emails aren’t full)
    2) revenues are 50% of what they were 4 yrs ago and the profit margin is almost a third of what it was when the current administration took over.
    3) our health insurance is WAY up
    4) the rest of the people I know in the construction industry are scratching their heads wondering what they are going to do if taxes go up and how they are going to keep their people working.
    5) and lastly, why in the world can’t the rest of America see that the BILLIONS of dollars we BORROWED for recovery – DID NOT WORK

  2. David Huie Green on November 29th, 2012 5:42 pm

    REGARDING:
    “Fox! Heck no! Just FACTS!”

    Don’t let her bother you. She seems to think anyone who ever disagrees with President Obama is a mindless slave of Fox News Network, otherwise they would join in singing his perfection.

    David amused

  3. George on November 29th, 2012 4:23 pm

    Our country is going down by leaps and bounds. I am so afraid for my grand children. When the small business owner is taxed out of business, who is going to employ people! I don’t get it! Fox! Heck no! Just FACTS!

  4. Jane on November 29th, 2012 10:10 am

    Fortunately I watch ALL the news channels, FYI, and read a lot. Maybe you folks need to pick on someone else for a change.

  5. Roz on November 28th, 2012 12:03 pm

    This country wanted Obama another four years and they need him. He is
    such an awesome leader and I am so proud to be apart of such a successful
    country. Look at how well our economy is growing. Thats all because he is so awesome! People should not loose faith in him because he is awesome!
    His staff is so professional and competent and yes they are awesome too!
    No scandals just people helping people……..NOT

  6. 429SCJ on November 28th, 2012 9:14 am

    Weapon and munitions sales have gone through the roof.

  7. cat on November 28th, 2012 8:23 am

    TO Abe, Bob & Kathy:

    Great responses to Negative Nellie Jane! Couldn’t have said it better.

  8. well on November 28th, 2012 8:16 am

    @Kathy, “appears that ignorance reigns in Fla.”

    Not just in Fla, the majority of states voted for Mr. Obama.

  9. Abe on November 28th, 2012 7:52 am

    @ Jane: It’s going to be a long 16 years (or more) for you; unless of course the GOP can change their image and come up with something other than “trickle down” (my leg) supply side ecomonics, self deportation, deregulation, no taxes for the rich and 47% politics.

    I agree with Kathy; maybe you should open the window to a less hateful “news source” and get a breath of fresh, honest air; it could do wonders for your outlook.

  10. Powah' to the people on November 28th, 2012 7:23 am

    Ya’ think?…

  11. Bob on November 28th, 2012 6:57 am

    Stop whining! Get over it! Go to work!

  12. Kathy on November 28th, 2012 6:45 am

    Too bad Jane watches only the opinion network of FOX. Not relevant intelligent news reports. Appears that ignorance reigns in Fla.

  13. Jane on November 28th, 2012 2:55 am

    Gee, we are back to Obamacare taking money from small business/people who can’t afford it. The Congress can’t seem to do anything at all. Taxes may go up next year, the people on SSI are afraid they will lose the money THEY PAYED INTO it and Obama took billions out of Medicare, leaving it insolvent. I wonder why the people have lost “consumer confidence”? I know I am not buying anything I don’t need.

Written by William Reynolds · Filed Under News