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Florida consumer confidence remains high

A spike in Florida's consumer confidence a month ago apparently wasn't a fluke.

Consumer confidence statewide remained unchanged in February at 77 out of 100, according to a University of Florida survey released Tuesday. That follows a 7-point jump in the rate in January.

Chris McCarty, director of UF's Survey Research Center, said he had expected a February correction.

"A second month at this high level makes it much less likely that the increase for January was an aberration and more likely that consumers view the economy and their personal economic situation as having improved," McCarty said. "At 77, the index represents a dramatic improvement over consumer confidence for the past three years."

The only exception since the onset of the recession was in April 2010, when tax rebate programs temporarily fueled more optimism, the UF report said. Consumer confidence levels tumbled in the following months when the rebates wound down and the BP oil spill in the Gulf of Mexico raised pessimism.

Florida consumer confidence remains high 02/22/11 [Last modified: Tuesday, February 22, 2011 6:22pm]
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