Floridians Feel Positive About Economy, Future

Dec 27, 2016

Floridians are enthusiastic about the economy and their personal budgets. That’s according to a survey by the University of Florida. Consumer confidence among Floridians surged up 6.9 points this month to 97.2, according to a news release. The high mark shows people in the state are as hopeful about the future as they were before the Great Recession and housing crisis in 2008.

Credit AP

“Overall, Floridians are far more optimistic this month,” said Hector Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research. “The gain in December’s sentiment reading comes mainly from consumers’ future expectations about the economy, independent of their demographic characteristics and socioeconomic status. These are very positive signs, which provide great conditions for the upcoming change in federal government.”

The survey results found Floridians more inclined to make a big purchase and their expectation the job market will continue improving in the new year.

The Florida unemployment rate rose slightly to 4.9 percent in November. The number of jobs the state added last month increased by more than 3 percent compared with the same time last year. The UF news release said Florida’s gross domestic product is the highest in the Southeast and the 7th highest in the U.S.