Make us your home page
Instagram

Florida consumer confidence still near record low

Though consumer confidence nationwide jumped strongly this month, Floridians remain in an economic funk.

The Conference Board's national gauge of consumer confidence rose to 56 from a 40.9 reading in October, the biggest monthly gain since April 2003. Economists applauded the better-than-expected news from the New York research group as it came on the heels of a strong kickoff to the holiday shopping season.

Consumer sentiment was more subdued in the Sunshine State. The state's confidence index — which uses a different range than the Conference Board index — remained at 65 in November. That's just a few points above the record low and unchanged from the revised mark for October, according to the University of Florida's monthly phone survey.

"Consumers are slightly less optimistic about current conditions than they were last month and slightly more optimistic about long-run conditions," survey director Chris McCarty said.

Florida's monthly index ranges from 2 to 150 and is benchmarked to 1966, meaning a value of 100 represents the same level of confidence as in that year. The record low of 59 was set in June of 2008.

The current level is not only stuck near a historic low, but it "has previously been associated with recessionary levels," McCarty said.

The country officially exited the Great Recession in the summer of 2009, but the combination of high unemployment and very slow growth has continued to dog the economy.

Florida consumer confidence still near record low 11/29/11 [Last modified: Tuesday, November 29, 2011 7:46pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Record $417 million awarded in lawsuit linking baby powder to cancer

    Nation

    LOS ANGELES — A Los Angeles jury on Monday ordered Johnson & Johnson to pay a record $417 million to a hospitalized woman who claimed in a lawsuit that the talc in the company's iconic baby powder causes ovarian cancer when applied regularly for feminine hygiene.

    A bottle of Johnson's baby powder is displayed. On Monday, Aug. 21, 2017, a Los Angeles County Superior Court spokeswoman confirmed that a jury has ordered Johnson & Johnson to pay $417 million in a case to a woman who claimed in a lawsuit that the talc in the company's iconic baby powder causes ovarian cancer when applied regularly for feminine hygiene. [Associated Press]
  2. Superior Uniform acquires Los Angeles-based PublicIdentity

    Corporate

    SEMINOLE — A subsidiary of Seminole-based Superior Uniform Group has acquired Los Angeles-based branded merchandise company PublicIdentity Inc.

    Superior Uniform Group CEO Michael Benstock
[Courtesy of Superior Uniform Group]
  3. FBI warns of spreading W-2 email theft scheme

    Personal Finance

    The IRS is warning businesses about a sharp increase in email phishing scams involving employees' W-2 forms — scams that can put staffers' Social Security numbers and other critical information in the hands of thieves.

    The IRS is warning businesses about a sharp increase in email phishing scams involving employees' W-2 forms.
[McClatchy DC/TNS file photo]
  4. Walmart expands grocery delivery service in Florida markets

    Retail

    TAMPA — Walmart is formally launching its grocery delivery service in Tampa, the company announced Monday, as it expands its delivery test into Orlando and Dallas. Five locations around Tampa are offering delivery for online grocery orders.

    Walmart is expanding its grocery delivery to Tampa, the company announced Monday. | [Times file photo]
  5. Marina at Hudson Beach poised to become 24-unit condominium-hotel

    Business

    HUDSON — One of the mainstay businesses at Hudson Beach is poised for redevelopment into a 24-unit condominium-hotel.

    The owners of Skeleton Key Marina in Hudson have filed preliminary plans with Pasco County to redevelop the site into a 24-unit condominium-hotel.