Floridian consumer sentiment creeps higher as inflation continues to decline

Consumer sentiment among Floridians inched up eight-tenths of a point in August to 67.6 from a revised figure of 66.8 in July. Meanwhile, national sentiment dropped 2.1 points. 

“Floridians optimism in August stems from their views on their personal finances compared to a year ago, as well as their outlook for the national economy over the next year. These expectations are in line with the steady decline in inflation over the past twelve months, along with the overall prevailing conditions in the labor market. Although the economy is still adding jobs, it does so at a slower pace, which is gradually cooling an overheated labor market and, consequently, reducing the chances of a recession," said Hector Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research.

Among the five components that make up the index, three showed an increase and two decreased.