Consumer sentiment falls again as Floridians sour on economic future

Floridians are souring on the economy, as consumer sentiment continued to decline in April.

A new consumer sentiment survey published by the University of Florida (UF) shows a drop in sentiment in the Sunshine State. Latest figures show a continued downward spiral, which has been showing signs of trouble since at least February.

“Consumer sentiment in Florida has been on a downward trend over the past three months, largely driven by declines in Floridians’ expectations about future economic conditions,” said Hector H. Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research.

“These expectations have been steadily decreasing since the beginning of the year, reflecting growing uncertainty about the economy. Among the contributing factors are ongoing concerns about the potential impact of tariffs and the uncertainty surrounding future policy decisions.”

Consumer sentiment among Floridians dropped 1.8 points in April to 77 from a revised figure of 78.8 in March. The decline was smaller than the 4.8-point drop observed in national sentiment. Florida’s sliding consumer sentiment coincides with concerns across the U.S.

Americans’ confidence in the economy slumped for the fifth straight month to the lowest level since the onset of the COVID-19 pandemic as anxiety over the impact of tariffs takes a heavy toll on consumer expectations for future growth.

The Conference Board said Tuesday that its national consumer confidence index fell 7.9 points in April to 86, its lowest reading since May 2020. Nearly one-third of consumers expect hiring to slow in the coming months, almost matching the level reached in April 2009, during the height of the Great Recession.

The figures reflect a rapidly souring mood among Americans, most of whom expect prices to rise because of the widespread tariffs imposed by President Donald Trump. About half of Americans are also worried about the potential for a recession, according to a survey by The Associated Press-NORC Center.

Floridians have a bleak view of future economic conditions. Expectations of personal financial well-being a year from now dropped from 92.7 in March to 88.7 in April. The outlook on national conditions a year from now was nearly as dour as that figure fell 3.5 points from 81.6 in March to 78.1 in April.

The opinions on their own current personal economic situation compared to a year ago offered some hope. That figure among Florida residents increased a bit, going from 67.5 in March to 68.2 in April. However, views on whether now is a good time to buy a big-ticket household appliance dipped, falling from 69.2% in March to 68.4% in April.

The national economic picture is rattling Floridians, UF researchers found. The constant possibility of new trade tariffs is unsettling to residents of the Sunshine State, though the uncertainty seems to be easing to a degree.

“Despite the substantial increase in economic uncertainty in April, the decline in sentiment was notably smaller than those observed in February and March. A similar trend was observed at the national level, suggesting that there may be no more substantial declines in sentiment in the near future. Looking ahead, future measures of consumer sentiment will help assess whether the declines have slowed, indicating a potential stabilization in sentiment,” Sandoval added.

The UF survey was conducted between March 1 and April 24. Researchers interviewed a total of 591 people in Florida using cell phones and online questionnaires.

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Material from The Associated Press was used in this report.