Survey: Consumer Confidence In Florida Drops Again In May

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GAINESVILLE (CBSMiami/AP) — A possible trend is forming as consumer confidence in Florida has dropped again.

The monthly University of Florida consumer survey released Tuesday shows consumer confidence has dropped for the second straight month.

The survey measured confidence in May at 93.3, which is 2.4 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 says Floridians are becoming pessimistic about current economic conditions.

He added that residents were becoming more skeptical about their future personal finances.

The drop-off comes just two months after confidence had surged to its highest level in 15 years.

Sandoval said that if the pessimism persists it “might indicate a significant change in the trend of consumer sentiment.”

(© Copyright 2017 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)

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