Released July 27, 2010
GAINESVILLE, Fla. — Fears about the economic effects of the BP oil spill caused a slight decline in Florida’s consumer confidence in July, while expectations about personal finances reached a record low, according to a new University of Florida survey.
“It was no surprise that consumer confidence remained subdued among Floridians in July as the oil from Deepwater Horizon continued to flow into the Gulf most of the month,” said Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research. “This comes at a time when other economic indicators were showing signs of changing for the better.”
Consumer confidence fell two points to 65, its lowest point in 16 months, with respondents especially pessimistic about their future finances, he said.
--continued on University of Florida news
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