Florida consumer confidence in economy is the highest in 16 years

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The confidence of Florida consumers in the evolution of the US economy is the highest recorded in 16 years, with an increase of 2.3 points this January, up to 99.8 points, compared to last December, according to a study released today by the University of Florida (UF).

These levels of confidence were not seen since March 2002, when Florida’s “consumer sentiment” reached 102 points, the UF said in a statement.

The three elements that reflect the expectations of future economic conditions “improved significantly” this January.

Thus, the one-year anticipation of personal finances increased by 4.4 points, from 104.2 to 108.6, and the general opinion about the conditions of the country’s economy for the year had an increase of 7.9. points, going from 96.1 to 104 points.

On the other hand, the expectation about US economic conditions Five-year advance rates rose from 92.5 to 93.2 points.

But, despite the increase in confidence in personal finances, the general opinion about the current conditions of the country’s economy fell in January, particularly among people under the age of 60 and those with incomes less than $ 50,000. , said Hector Sandoval, director of the UF’s Economic Analysis Program.

The unemployment rate in Florida rose by one tenth in December, to 3.7%, with the majority of jobs created in the service sector, followed by construction, commerce and transport.

The real estate sector last December showed an increase in the sale of homes of 2.6%, according to Florida Realtors and the gross domestic product (GDP) of the state grew in the second and third quarter of 2017 at a rate of 3% , with the financial and insurance sector as the main engine.

And personal income also increased slightly among Floridians in the third quarter of 2017.

These figures on consumer perception “support the positive trend of the economy.”

In fact, Sandoval pointed out, we expect “Florida consumer sentiment to continue its upward trend while improving family income and well-being along with labor market and real estate conditions.”

The study was conducted between January 1 and 25 and includes responses to telephone interviews with 482 individuals located in Florida. (efeusa)

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