Miami Herald: Florida’s consumer confidence index hits 2-year high

Jan 27, 2010

The Miami Herald published this article on January 27, 2010.


Florida’s consumers started out the New Year unexpectedly optimistic about the economy, with the state consumer confidence index rising to its highest level in more than two years.

The University of Florida’s monthly survey of people across the state rose overall five points to 72, with the mood improving across all ages and incomes.

Respondents indicated increased optimism among all the five questions of the survey, which is designed to measure sentiment about personal finances, local and national economic conditions and whether it is a good time to buy big-ticket items like electronics or cars.

January’s numbers were the highest since December 2007.

Survey director Chris McCarty said he expected January numbers were a momentary respite and that they would be downwardly revised next month once they have collected the extra data from this week, the last one of the month.

The data was collected prior to the most recent unemployment report, as well as the result of the Republican Party’s win in Massachusetts, McCarty said in a statement about the survey.

McCarty also said that past Januarys have also seen similar jumps, “perhaps in response to the financial stress associated with the holidays and the economic turbulence of the past year.”

Respondents are surveyed by random telephone during the month. January’s survey was based on 424 initial responses.