Consumer confidence retreats - Denver Business Journal:

coeragnheidur3778.blogspot.com
Nationally, consumer confidence dropped sharply in cutting into three months of gains that had seen the overalkl index morethan double. The Conference Board's Consumer Confidencee Index fellby 5.5 points to 49.3 in Statewide, Florida’s consumer confidence index for June fell three pointds last month to 68, the result of bad economicc news including the bankruptcy of Genera Motors Corp., foreclosures and a spike in Florida’sz unemployment rate, according to a new Universituy of Florida poll.
While Floridians’ perceptionds of personal finances compared with a year ago is up three points to 44 from a reviseed May readingof 41, other perceptions were lower or the same as, last month. For example, perceptions of U.S. economicx conditions over the next year fell seven point sto 65, while perceptions of whether it’s a good time to buy big-tickeg items fell nine points to 67. Perceptionzs of U.S. economic conditions over the next five yearse remained unchangedat 80.
"Moving forward, we do not expecty Florida consumer confidence to declinee much more over the next couplewof months, barring some unforeseenm change here in Florida or Chris McCarty, director of UF’s Surveyu Research Center at the Bureaj of Economic and Busineszs Research, said in a news However, McCarty cautioned the recovery is expectedr to be long and unevehn for some sectors of the "With the demise of longstanding financial institutiona such as Lehman Brotherzs and manufacturing companies like Chrysler and GM, it is no longedr business as usual," he said.
The preliminaryy index for June was conducted from 430 It is benchmarkedto 1966, so a value of 100 representzs the same level of confidencr for that year.