Make us your home page

Florida consumer confidence sees August upswing

Consumer confidence levels in Florida finally got the bounce-back that economists had been waiting for.

The state's consumer confidence index rose 3 points to 70 this month, reports a University of Florida survey released Tuesday. The uptick comes after confidence numbers dropped 2 points in June and July. Nationally, consumer sentiment also rose, with expectations at the highest since the recession began.

"While the economic environment is by no means bright, the decline in July seemed unsustainable given the lack of any very bad economic news and some encouraging signs in Florida's housing market and the stock market," said Chris McCarty, survey director of UF's Bureau of Economic and Business Research.

The August upswing was most pronounced in confidence that the economy will improve over the next year and beyond.

• Perceptions of U.S. economic conditions over the next year jumped 10 points to 73.

• Perceptions of U.S. economic conditions over the next five years rose 8 points to 80.

• Perceptions of personal finances a year from now increased 5 points to 84.

Consumers were more wary about the current state of affairs. The index that measures perceptions of personal finances now compared with a year ago was unchanged at 43, just 4 points above its all-time low. And there was a 5-point drop in perceptions of whether it's a good time to buy big-ticket items.

McCarty said rising unemployment, now at 10.7 percent in Florida, will continue to make any recovery a sluggish one.

"We are not out of this recession yet, particularly here in Florida, but things are not nearly as bad as they were a year ago," he said.

UF's monthly telephone survey, based on 425 responses for August, is benchmarked to 1966, so a value of 100 represents the same level of confidence for that year.

Florida consumer confidence sees August upswing 08/25/09 [Last modified: Tuesday, August 25, 2009 9:03pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Tampa is 15th-most popular city to move to with U-Haul


    TAMPA —Tampa is undoubtedly a destination point, at least according to U-Haul.

    Tampa is the No. 15 destination for people moving with U-Haul trucks. | Times file photo
  2. Florida's economy growing faster than other big states and far better than U.S. overall


    When it comes to economic growth, Florida's running alongside the leading states and well ahead of the United States as a whole.

  3. Westshore Marina District project takes shape with another acquisition

    Real Estate

    TAMPA — One of Tampa Bay's prime waterfront areas took another major step toward redevelopment Friday as WCI Communities bought 2.35 acres in Westshore Marina District.

    WCI Communities, Lennar's high-end subsidiary,has paid $2.5 million for 2.35 acres in the Westshore Marina District for 35 townhomes. WCI is under contract  to buy an additional 9.5 acres.
[BTI Partners]
  4. Posh Guy Harvey RV park to open in Tampa Bay with $250,000 cottages


    HOLIDAY — Love those Guy Harvey T-shirts with the soaring marlins? In the not too distant future, you might be able to kick back in your own Guy Harvey cottage in the first-ever Guy Harvey RV park.

    Renderings of the clubhouse and an RV cottage site of the planned Guy Harvey Outpost Club & Resort Tarpon Springs.
[Guy Harvey Outpost Collection]
  5. Port Tampa Bay secures $9 million grant to deepen Big Bend Channel


    Port Tampa Bay has secured a $9 million grant from the U.S. Army Corps of Engineers for the widening and deepening of the Big Bend Channel in southern Hillsborough County.