Consumer Confidence Declines in Florida

posted by Alan McBride - 

Consumer sentiment in December fell both nationally and among Floridians, dropping 1.4 points in Florida from a revised November figure of 97.3 to 95.9, according to the latest University of Florida consumer survey.

Among the five components that make up the index, one increased and four decreased, economists said.

According to the indexes, opinions as to whether now is a good time to buy a big-ticket household item rose 3.5 points, from 101.1 to 104.6. 

Perceptions of one’s personal financial situation now compared with a year ago dropped 1.3 points from 90 to 88.7.

The three components representing expectations of future economic conditions all declined this month, according to the reading from U-F economists. 

Expectations of personal finances a year from now declined 2.9 points from 105.4 to 102.5. 

Anticipated U.S. economic conditions over the upcoming year decreased 2.5 points, from 96.9 to 94.4. 

Expectations of U.S. economic conditions over the next five years showed the biggest drop this month, down 3.6 points from 93 to 89.4.

Officials said most of the pessimism from that quarter this month comes from unfavorable expectations about the state of the U.S. economy over the next five years. 

They added that those negative perceptions are shared across all demographics in Florida and are strongest among those with an income level over $50,000. 

Additionally, the pessimism may reflect concerns over daily financial debates by the U.S. government this month.

Economic indicators in Florida have remained favorable throughout 2017. The labor market experienced solid job gains and a decreasing unemployment rate.

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