UF: Consumer confidence in Florida hits 16-year low

Consumer confidence in Florida fell in April to its lowest point in 16 years, according to researchers at the University of Florida.

Confidence fell four points to 66, passing a previous 16-year low recorded earlier this year in January and March.

"Consumer confidence in Florida is now at the same recessionary levels as it was during the 1990-91 recession," said Chris McCarty, director of UF's Survey Research Center. "Unlike the relatively mild recession of 2001, the recession of 1990-91 resulted in a longer time to recover. This is a likely scenario for the current economy."

Four of the index's five components fell in April with the biggest decline being the nine-point drop to 79 in perceptions of personal finances a year from now. The only component that rose was the perception about whether it is a good time to buy a big-ticket item, which climbed three points to 67.


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