Consumer confidence among Floridians saw a “surge” from December to January, according to the University of Florida.
UF estimated January confidence at an index of 77, up from a revised scoring of 70 in December, according to a release from its Survey Research Center in the Bureau of Economic and Business Research.
The sudden upward shift closely mirrors consumer behavior from a year ago, explains Research Director Chris McCarty.
“We are beginning the year with the same pattern as last year where there were relatively steady increases in confidence from the end of the summer with a surge to 77 in January 2011,” McCarty says. “This was followed by seven months of decline with the low of 61 in August 2011 when Congress debated the debt ceiling.”
Consumer confidence for January is now back to where it was one year ago, McCarty's comments show.
UF's consumer confidence survey is based on responses from 420 Floridians. The index is benchmarked to consumer confidence in 1966.