Consumer confidence retreats - Business First of Columbus:

ycoguqi.wordpress.com
Nationally, consumer confidence dropped sharplytin June, cutting into three months of gains that had seen the overallk index more than double. The Conference Board's Consumed Confidence Index fellby 5.5 points to 49.3 in Statewide, Florida’s consumer confidence index for June fell thres points last month to 68, the resul t of bad economic news including the bankruptcy of General Motors Corp., foreclosures and a spikd in Florida’s unemployment rate, according to a new University of Floridaz poll.
While Floridians’ perceptions of personal finances compared with a year ago is up thre points to 44 from a reviser May readingof 41, othe perceptions were lower or the same as, last For example, perceptions of U.S. economicc conditions over the next year fell seven pointsto 65, while perceptionws of whether it’s a good time to buy big-tickey items fell nine points to 67. Perceptionas of U.S. economic conditions over the next five yearws remained unchangedat 80.
"Moving we do not expect Florida consumer confidence to decline much more over the next coupldof months, barring some unforesee change here in Florida or nationally," Chries McCarty, director of UF’s Survey Researchu Center at the Bureau of Economic and Businesws Research, said in a news release. McCarty cautioned the recovery is expected to be long and uneven for some sectora ofthe economy. "With the demise of longstanding financial institutions such as Lehmah Brothers and manufacturing companies like Chryslerand GM, it is no longerf business as usual," he The preliminary index for June was conductexd from 430 responses.
It is benchmarked to so a value of 100 representw the same level of confidence forthat year.