UF report: Consumer sentiment continues lukewarm trend in September
UF researchers say survey shows Sunshine State consumers are warming to economy. Stock image via Adobe.

consumer sentiment money funding
UF reports a one-tenth of a point drop from September.

Floridians were lukewarm on the economy last month and their opinion didn’t improve much in October, according to new data from the University of Florida (UF).

The latest consumer sentiment measure clocks in at 66.2, a one-tenth of a point drop compared to September despite generally positive economic indicators. Nationally, consumer sentiment fell 4.1 points month-over-month.

“Inflation has fallen over the past year, the labor market has shown surprising resilience, and continued economic growth has consistently outperformed expectations. In fact, the U.S. economy grew at an annual rate of 4.9% in the third quarter of 2023, driven by increased consumer spending and inventory investment,” said Hector H. Sandoval, Director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research.

“Yet, consumer sentiment among Floridians has remained persistently low, making 2023 poised to be the third-lowest year in terms of consumer sentiment since records have been available.”

The topline consumer sentiment figure is made up of five components, two based on current perceptions of the economy and three based on future economic expectations.

According to UF, current conditions are driving Floridians’ pessimism. Views of personal financial situations now compared with a year ago fell from 56 to 53.7. These sentiments were shared by Floridians across all sociodemographic groups, except for people who make $50,000 a year or more. Opinions on whether now is a good time to purchase a major household item, such an appliance, were flat at 56.2.

“Pessimism among Floridians regarding their current financial situation compared with a year ago and their expectations about the national economy over the next year indicates that they may be more cautious in their spending habits in the months ahead. However, the continued resilience in the labor market and consumer spending provides a positive signal for retailers as they approach the holiday shopping season,” Sandoval said

Future expectations were a mixed bag. More Floridians say they’re optimistic about their personal finances a year from now — that column ticked up 3.6 points to 83.6, and the upward trajectory cut across all demographics which the UF memo described as “remarkable.”

Floridians weren’t as bullish on the U.S. economy in the near term, however, with the one-year outlook falling from 67.2 to 64.5. Still, the five-year outlook rose by a point to 73.1.

The dip in the one-year outlook was shared by all Floridians except those who make more than $50,000 a year. The five-year optimism carried across all demographics except those over 60, who reported slightly more pessimistic views.

The UF report noted that while inflation didn’t continue to fall last month, the annual rate of 3.7% is far lower than a year ago. Other positives: Florida boasts a 2.8% unemployment rate — No. 14 among all states — and labor force participation stands at 59.8%, a 0.7-point increase since January.

“Looking ahead, as overall consumer sentiment has remained low throughout the year without gaining any significant ground, we anticipate that sentiment will likely continue to stay depressed for the rest of the year,” Sandoval said.

The UF survey was conducted Sept. 1 through Oct. 29. It collected responses from 224 Floridians via cellphone and 301 Floridians who participated in an online panel, a total of 525 individuals. The index used by UF researchers is benchmarked to 1966, which means a value of 100 represents the same level of confidence for that year. The lowest index possible is a 2, the highest is 150.

Staff Reports


  • Earl Pitts "Earl Knows Best" American

    October 31, 2023 at 6:57 pm

    Good evening America,
    Keep in mind that anything we see in print publications is padded and fluffed to the highest level possable in favor of the leftist politicians currently in control of our nation. Everything else is just a side-show.
    I would say truthfully each reported statistic has been fluffed up 50% in the left’s only thing they can do to desperatly keep every Dook 4 Brains citizen possable voting Democrat this time around.
    This will be a POTUS election for the history books for sure.

    • Rick Whitaker

      October 31, 2023 at 10:19 pm


      • Earl Pitts "Media Influncer Extrodiniar" American

        November 1, 2023 at 6:58 am

        Great job Rick,
        Your wacky lefty contrarian commentary has been proven to get my sage words of political knowledge into the minds of an additional 75,000 Dook 4 Brains RINO’s & Lefty’s each and every day. When questioned why they made the choice to drink from the cup of “Earl Knowledge” overwhelmingly they cited your wacky contrarian post as the reason they had to read and were unable to avert their eyes from the flowing stream of extream “Earl Pearls Of Political Wisdom”
        We, my man Rick, are truley acheiving our finest dreams of World-Wide “Media Influncers” !!!
        Couldent soar with the Eagles without you son.
        Earl Pitts “Media Influncer” American

        • Joe The Plumber

          November 1, 2023 at 7:20 am

          Good morning Earl,
          Me and my Son little Joey are already up and at it. We are on our second job of the day and little joey has agreed to take over the business so I can become a fulltime Bass Tournament Fisherman.
          I know you are also proud of your own son little Rickey. Even with his tragic ageing syndrom that makes him look like your Grandpa you are such a great father to little Rickey.
          Proud of you Earl

          • Rick Whitaker

            November 3, 2023 at 4:20 pm

            sphincter man , what a loser

        • Rick Whitaker

          November 3, 2023 at 4:19 pm

          quit hitting on me sphincter man

Comments are closed.


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