UF: Floridian’s Consumer Confidence Falls Slightly

October 29, 2014

Consumer confidence among Floridians dropped a point in October to 82, the first decline in the index since May, according to a monthly University of Florida survey.

“This decline is not likely indicative of a trend,” said Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research, which conducts the survey. “Given that the stock market has improved late in the month and the decline was only a point, we don’t view the drop as significant.”

Of the five components used in the survey — three declined, one increased, and one stayed the same. Survey-takers’ overall perception whether their personal finances are better now than a year ago fell four points to 71, while their expectations of being better off financially one year from now fell one point to 82.

The survey shows that confidence in the national economy over the coming year fell one point to 78, but it rose a point to 82 when respondents were asked to consider U.S. economic conditions over the next five years.

Finally, respondents’ perception as to whether it is a good time to buy big-ticket item, such as a washing machine, stayed the same at 96.

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Written by William Reynolds · Filed Under News