TBO.com - TBO is Tampa Bay Online

UF index reflects increase in consumer confidence

ADVERTISEMENT

By TED JACKOVICS | The Tampa Tribune

Published: April 28, 2009

TAMPA - Consumer confidence in Florida rose in April thanks to flattening housing prices statewide and news the economy has not gotten worse, a University of Florida report released today said.

UF's Survey Research Center at the Bureau of Economic and Business Research reported a six-point gain in its consumer confidence index to 71 in April.

That compares with an index level of 59 in June last year, the lowest level in the 25-year history of the index.

"The size of the increase comes as somewhat of a surprise," said Chris McCarty, director of the Survey Research Center.

"However, in balance, consumers seem to have absorbed most of the bad news and are at least not seeing things getting much worse."

The biggest jump was in perception of whether it is a good time to buy big-ticket items, such as cars and appliances, which jumped 15 points.

If housing prices nationally begin to stabilize, that would help establish the value of some of the toxic assets held by banks and indicate how deeply the recession has hurt the global economy, McCarty said.

Reporter Ted Jackovics can be reached at (813) 259-7817.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT