Florida Consumer Confidence Up in July

posted by Alan McBride -


Consumer sentiment among Floridians rose 1.5 points in July to 97.7, the second-highest reading since March 2002.

That's according to a release prepared by economists at the University of Florida in Gainesville.

Among the five components that make up the index, three increased and two decreased.

Perceptions of one’s personal financial situation now compared with a year ago showed the greatest drop in this month’s reading, down 2.7 points.

Economists said that women, people 60 and older, and those with annual income under $50,000 held very positive views about their personal finance situation.

Opinions as to whether now is a good time to buy a major household item such as an appliance increased 1.5 points.

Expectations of personal finances a year from now ticked down nine-tenths of a point.

Expectations of U.S. economic conditions over the next year showed the greatest increase in this month’s reading, up six points. 

Additionally, expectations of U.S. economic conditions over the next five years rose 4.1 points.

Economists said the gain in July's sentiment came from consumers' future expectations about the economy in the medium and long run. 

It's a positive economic outlook in the first half of the year that is credited with bringing consumer sentiment in Florida to its highest levels in the last 15 years, according to U-F economists.

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