Florida Consumer Confidence Bounces Back in November

Consumer sentiment among Floridians recovered from last month’s drop, rising to 76 in November from the revised reading of 70, according to a new University of Florida survey.

“As expected, consumer sentiment among Floridians regained much of the loss from September to October as the shutdown and debt ceiling debate came and went,” says Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research. “However, at 76 we are several points away from our post-recession high of 81. We also note that the October reading was revised down one point to 70 indicating just how much of an effect it had on consumer optimism.”

Four of the five components used in the survey went up. Survey takers’ overall perception that now is a good time to buy big-ticket items, such as a car, increased 16 points to 94.

“That component is now at the highest since April 2007 when the economy was showing signs of the bursting housing bubble which led to the Great Recession,” McCarty said.

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