Saturday, June 23, 2018
Business

Florida consumer confidence still healthy despite drop from record high

Consumer sentiment in Florida dropped slightly in April from the previous month's record high, though Floridians generally remain optimistic about economic conditions, according to a University of Florida survey released Tuesday.

UF said consumers are still more optimistic overall than in the same period a year ago.

The consumer sentiment index dropped 3.5 points to 95.7, UF said. But consumers' perceptions of their financial situation now compared to last year rose 2.2 points. That is the highest reading since February 2005.

On the other hand, sentiment about whether it was a good time to make a major household purchase such as an appliance dropped 1.9 points.

Other markers dropped in April as well, including expectations of personal finances a year from now and anticipated U.S. economic conditions during the next five years .

"Despite the decrease in one of the two components that address present conditions, current perceptions have remained stable in recent months, reflecting the favorable economic conditions that have prevailed in the state," said Hector H. Sandoval, director of the Economic Analysis Program at UF's Bureau of Economic and Business Research.

Those earning more than $50,000 a year were the most optimistic, the survey found.

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