Floridians still confident about economy for second month

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Floridians still confident about economy for second month


GAINESVILLE, Fla. – Feb. 23, 2011 – Consumer confidence among Floridians remained at 77 out of 100 in February, suggesting a sustainable and improved view of the economy, according to a new University of Florida (UF) survey.
The index rose seven points last month, an unexpected increase according to Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research, considering the economic climate in Florida. However, he considers it noteworthy that the index didn’t change dramatically this month.
“We had expected a correction to last month’s seven-point increase in consumer confidence,” says McCarty. “A second month at this high level makes it much less likely that the increase for January was an aberration and more likely that consumers view the economy and their personal economic situation as having improved.”
McCarty said several factors contribute to Floridians’ increased optimism, and at the top of the list is the bull market in stocks that is lifting portfolios. Another factor, McCarty says, is that people nearing retirement age whose 401(k) accounts were almost halved by the recession have mostly recovered those losses.


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