The Bureau of Economic and Business Research the University of Florida released its latest consumer sentiment report showing the number had reached its highest level in two years.
In December the number was 69.5. In January that number increased to 72.8 percent. Poll numbers over the last couple of years show voters approve of the way Gov. Ron DeSantis has handled the economy.
The last UF survey shows that that trend continues to move upward with an optimism reading from 81.6 to 85.5. The majority of those surveyed have a positive view about their finances.
The UF analysis show that in 2023, Florida consumers weren’t too keen on a positive economy with high interest rates and normal than higher inflation.
And over the last year, consumer and business confidence numbers have shown mixed results with many believing the U.S. is in a recession. But a plurality of businesses surveyed by CNBC, expect the economy to do decent in the first quarter of this year. But the conference board believe the U.S will see the economy slow down by either the 2nd or 3rd quarter of 2024.
Hector Sandoval the director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research says the increase of the consumer sentiment also comes from the attitude that consumers believe the economic outlook for 2024 will be positive.
The UF survey also found more Floridians were buying larger ticket items in the durable goods field. This would include appliances and other purchases consumers would buy for their household.
“The increase in consumer confidence, particularly regarding future economic outlooks, indicates robust consumer spending, which will keep the favorable economic outlook in the upcoming months,” said Sandoval.
