GAINESVILLE (CBSMiami/AP) — Consumer confidence in Florida dropped slightly amid concerns of personal finances.
The monthly University of Florida consumer sentiment survey released Wednesday measured confidence at 90.2 in December. It was higher than the rating during the same time period last year.
The consumer sentiment is rated on a scale of 2 to 150 benchmarked to 1966 at a value of 100.
Floridians’ views of the U.S. economy were mixed with expectations over next year falling slightly while a longer term view of the national economy ticked upward.
Hector Sandoval, director of the economic analysis program at UF’s Bureau of Economic and Business Research, says the drop was possibly due to the potential increase in borrowing money after the Federal Reserve increased interest rates by a quarter percentage point.
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