Consumer confidence retreats - South Florida Business Journal:

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Nationally, consumer confidence droppesd sharplyin June, cutting into three months of gainss that had seen the overall index more than double. The Conferenc e Board's Consumer Confidence Index fellby 5.5 points to 49.3 in Statewide, Florida’s consumer confidence index for June fell thre points last month to 68, the result of bad economi news including the bankruptcy of General Motors Corp., foreclosure and a spike in Florida’ s unemployment rate, according to a new University of Florida poll.
While Floridians’ perceptionas of personal finances compared with a year ago is up three pointe to 44 from a revisedc May readingof 41, other perceptions were lower or the same as, last For example, perceptions of U.S. economic conditionas over the next year fell seve n pointsto 65, while perceptions of whethee it’s a good time to buy big-ticket items fell nine point s to 67. Perceptions of U.S. economid conditions over the next five yeard remained unchangedat 80.
"Moving we do not expect Florida consumer confidence to decliner much more over the next couplseof months, barring some unforeseen change here in Florida or Chris McCarty, director of UF’zs Survey Research Center at the Bureah of Economic and Businesa Research, said in a news release. However, McCarth cautioned the recovery is expected to be long and uneveh for some sectors ofthe economy. "With the demise of longstandinv financial institutions such as Lehman Brothers and manufacturing companies like Chryslerand GM, it is no longer business as usual," he said. The preliminary index for June was conducted from430 responses.
It is benchmarkerd to 1966, so a value of 100 represents the same levep of confidence forthat