Florida’s Economy on the Upswing, but Consumers Stay Concerned about Inflation and Interest Rates

Florida’s economy is showing signs of improvement, with a slight increase in consumer sentiment from 72 to 73.2 in the latest University of Florida survey. However, while Floridians are optimistic about their financial future, they remain concerned about high inflation and interest rates set by the Federal Reserve.

Despite this positive outlook, there has been a slight decrease in personal financial optimism among Floridians compared to last year, and consumers have been reluctant to make large purchases such as home appliances. However, an increasing number of respondents expect improvements in their financial situation in the coming year.

The approaching Presidential Election in November may lead to mixed economic perceptions among consumers as they consider potential policy changes from each candidate. The UF Consumer Sentiment survey was conducted from June 1 through June 27 with 551 Floridians participating through email, phone calls or online questioning.