Florida’s Consumer Sentiment Sits Tight

Florida’s Consumer Sentiment Sits Tight

A new report released Tuesday by the Wells Fargo Economics Group noted that consumer sentiment in Florida remained at 78 for the second straight month.

Although consumers in the nation as a whole lost some confidence in February, the Florida Consumer Sentiment Index showed citizens of the Sunshine State remained steady.

A big part of the consumer sentiment index reading of 78 had to do with the weather.

The report notes, “Florida’s recent economic data have been immune to the weather effects seen across much of the country. Employment growth has accelerated well above the national average, while the housing market continues to post solid gains.”

The three month moving average of Florida consumer sentiment was 77.7, slightly below the February figure.

However, expected conditions were not so rosy.

“The personal financial situations compared to a year ago and expected one year from now slipped dramatically in February,” the report said.

Age of respondents played a big factor in their future expectations.

“Respondents over the age of 60 were particularly cautious about their current situation, but even the younger age cohort was less optimistic about their future financial situation, the report noted.

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