- Florida’s consumer sentiment index rose 2 points in July to 84, reaching another post-recession high. Consumers are more upbeat about the near-term and five-year ahead outlook for the national economy.
Consumers Are More Upbeat on Economic Prospects
- The University of Florida’s Consumer Sentiment Index rose 2 points in July, compared to a 4.5-point jump in the national index. The Florida survey contained responses for an additional week, however, and was likely more heavily influenced by events in Ukraine and Israel.
- Consumers have become more optimistic both nationally and in Florida as the unemployment rate has come down.
Personal Finances Gave Back Some of June’s Gains
- Floridians’ assessment of their current and future financial situation both fell in July, declining by 2 points and 1 point, respectively. Both series had risen sharply in June, however, and remain near the highest levels seen since the recession ended.
- Consumer sentiment has closely tracked home prices during the recovery. Lower income households are less upbeat about their financial situation and gave back some recent gains in July.
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