Confidence approaches new low

Consumer confidence in Florida fell significantly in August, according to researchers at the University of Florida, and is now flirting with the prospect of an all-time low.

“The confidence index for August is now only three points above its record low of 59 from June of 2008,” explains Chris McCarty, director of the research efforts behind the university's survey.

His interpretation of the survey's most recent results is no more encouraging. “If past history of this index is any indication we are in, or at least very near, a recession,” he says.