Saturday, June 23, 2018
Business

Florida consumer confidence back up to post-recession high

Consumer confidence among Floridians has jumped back up to a post-recession high, according to a University of Florida survey released Tuesday.

The three-point rise this month brings the index to a level of 81, tying the mark set in May and June of 2013.

Separately, the Conference Board said Tuesday that its national consumer confidence index increased 4 points in March, reaching the highest level since January 2008.

Chris McCarty, survey director within UF's Bureau of Economic and Business Research, said Florida's score of 81 still reflects a relatively modest level of consumer confidence, though it's the highest since the recession began in December 2007.

He predicted confidence would remain near this level "given relatively good economic news and that Congress provides budget certainty with deals to fund federal budgets through this year."

Among the five components measured in the monthly poll, the biggest jump was when Floridians were asked whether their personal financial resources are better now than a year ago. That measure surged 10 points to 73, the highest level since August 2007.

The survey is benchmarked to 1966, which means a value of 100 represents the same level of confidence for that year. The lowest-possible index score is 2; the highest is 150.

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