If the nation's consumer confidence is dragging bottom, Floridians are right behind. Among Florida adults, it fell sharply in October to 60, down eight points from the revised number for September and down 19 points from a year ago. "Florida consumers are becoming increasingly pessimistic about their ability to maintain financial stability," said Chris McCarty, the University of Florida survey director at the Bureau of Economic and Business Research.
The survey also shows that perceptions of personal finances in October compared to a year ago plummeted nine points to a new all-time low of 40, while perceptions of personal finances a year from now fell four points to 81. Expectations are dour about U.S. economic conditions over the next year, falling 11 points to 54. But expectations about U.S. economic conditions over the next five years fell modestly, just two points, to 75.
Another all-time low was reached by the component measuring whether this is a good time to buy big-ticket items. That component fell 14 points to 52.