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Florida Still Not Thrilled With Progress Of Economic Recovery

GAINESVILLE (CBSMiami/AP) – Floridians continue to view the economy and how affects them from the glass is half empty perspective.

The monthly University of Florida survey released Tuesday shows the state's consumer confidence on a scale of 2 to 150 was 77 in the month of August. The scale was benchmarked in 1966 at a value of 100.

The August rate matched the July rate, which itself was a sharp drop from previous months.

Chris McCarty, who directs the survey, said that overall pessimism was driven primarily by concerns over personal finances and buying conditions.

He said also said that pessimism among low-income and younger Floridians is spreading to older and higher-income Floridians.

McCarty did note that there are other positive economic trends happening in the state, although he cautioned a contentious debate over the federal debt ceiling could affect consumer confidence in September.

(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)


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