Consumer Confidence Reaches Highest Level in 11 Months

Consumer Confidence
Posted at 9:12 PM, Apr 01, 2016
and last updated 2016-04-01 17:14:53-04

GAINESVILLE, Fla. (AP) - Consumer confidence in Florida is rising to its highest level in the last 11 months.

The monthly University of Florida consumer sentiment released Friday measured confidence at 93.4, or up more than one point from February. It's the highest it has been since March 2015.

The consumer sentiment is rated on a scale of 2 to 150 benchmarked to 1966 at a value of 100.

Researchers said that one reason for the upswing in consumer confidence is that more people anticipate that their personal finances will improve over the next year.

Hector Sandoval, director of the economic analysis program at the UF's Bureau of Economic and Business Research, said older Floridians are showing more optimism about the national economy than they have in the previous year.