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Year-end survey shows drop in consumer confidence in Florida

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Posted at 4:31 PM, Dec 23, 2017
and last updated 2017-12-23 16:31:00-05

GAINESVILLE, Fla. (AP) - Consumer confidence in Florida fell at the end of the year.

The monthly University of Florida consumer survey released Friday showed consumer confidence dropped in December. The survey measured confidence at 95.9, which is 1.4 points lower than it was previously. The lowest index possible is a 2, and the highest is 150.

Hector Sandoval of the Economic Analysis Program at UF's Bureau of Economic and Business Research said the drop came because Floridians are expressing pessimism about future economic conditions. He added that those with the strongest negative perceptions came from those who make more than $50,000 a year.

Despite the drop, consumer sentiment for 2017 was higher than it was for the previous year. And Sandoval noted that this has been the highest average since 2000.