A recent University of Florida survey shows a three point rise in Floridians' consumer confidence in December 2011. Although the figure is one point below the level set a year ago, it's the highest increase since March 2011.
The survey's benchmark reflects consumer confidence in 1966; a value of 100 equals the same level of confidence for that year. The lowest index for consumer confidence is a 2, while the highest is 150. Conducted between Dec. 11 and Dec. 22, 2011 the survey tallied responses from 411 Floridians and measures 5 difference indexes; four rose and one declined.
According to the survey, Floridians believing that their personal finances have improved from a year ago rose one point to 53. They have greater faith in the soundness of the U.S. economy: that index rose six points to 59. They also feel more hopeful about economic performance over the next 5 years as this index rose three points to 71. The largest jump was seen in Floridian's attitudes about buying "big ticket" items, with an upswing of seven points to 85. However, they feel less secure about their personal finances one year from now, with this index declining two points to 78.
Interestingly, positive responses to some of Florida's economic issues in December came from both older and younger Floridians; men felt more positively than women by 71 points.
According to Chris McCarty, director of University of Florida's Survey Research Center in the Bureau of Economic and Business Research, possible factors for this increased optimism are the improving employment situation, seasonal discounts to shoppers, and lower gas prices and mortgage interest rates.
Unsteady stock prices, the worsening European economy, and squabbles in the U.S. Congress over spending and debt, did not seem to effect consumer confidence during this time period.
Source: 2012 Florida Realtors®
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