Consumer confidence among Floridians rose five points to 67 in December, reflecting optimism about new Presidential leadership in 2009 despite unprecedented pessimism about personal finances, a University of Florida study finds.
“Consumers are looking forward to a shift in the economy toward something better in 2009,” says Chris McCarty, director of UF’s Survey Research Center at the Bureau of Economic and Business Research. “As with the past month, consumers are confident that the new administration will resolve the economic crisis and that much of the intervention so far will work.”
Four of the five components that make up consumer confidence increased. Perceptions of whether this is a good time to buy big-ticket consumer items rose nine points to 71; perceptions of U.S. economic conditions over the next year rose seven points to 62; perceptions of personal finances a year from now rose six points to 87; and perceptions of U.S. economic conditions over the next five years rose five points to 78.
However, the one component of the index to drop – perceptions of personal finance now compared with a year ago – dropped one point to a new record low of 39, McCarty says.
The numbers were lower for senior citizens and low-income households, McCarty says.