Make us your home page
Instagram

Florida consumer confidence is stagnant for August

Florida consumer confidence remained stagnant in August with no clear sign that the economy is either recovering or heading into another recession, according to a University of Florida survey released Tuesday.

The consumer confidence index inched up one point to 67, a measure reflecting weak faith in economic conditions.

"With the exception of a jump in April due almost entirely to the housing and appliance rebate programs, consumer confidence has been stuck in the upper 60s to low 70s for the past year," said Chris McCarty, director of UF's Survey Research Center in the Bureau of Economic and Business Research. "We are in the economic doldrums."

Two of the five components of the index rose from July, both of them connected with Floridians' perception of their personal finances.

McCarty surmised the rise was in part because the gulf oil spill had been contained, reining in fears of a worsening environmental and economic crisis.

Still, he said, the state's high level of unemployment, shaky housing market and fluctuations in the stock market are enough to keep people wary. Overall, he said, the economic indicators "don't show a clear path out of recovery or back to another recession."

Nationally, the University of Michigan's consumer confidence index released last week was in a similar condition, rising one point for the month.

Florida consumer confidence is stagnant for August 08/31/10 [Last modified: Tuesday, August 31, 2010 7:14pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

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

    Markets

    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

    Business

    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

    Business

    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

    Business

    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.