Consumer confidence in Florida rose in May, breaking a three-month streak of declines, according to new data from the University of Florida’s Bureau of Economic and Business Research.
The state’s consumer sentiment index climbed 3.7 points to 81.0, up from a revised 77.3 in April and stands in contrast to flat national sentiment reported during the same period.
The improvement was broad-based, with gains recorded across all five components of the index. The largest shift came in Floridians’ views on whether it is a good time to buy major household items such as furniture or appliances, which rose 5.4 points to 73.9. Evaluations of personal finances compared with a year ago also improved, climbing 3.5 points to 72.0.
“Consumer confidence had declined sharply in recent months, largely driven by falling spending intentions and growing pessimism about the national economy. In May, however, the rebound in sentiment was supported by a marked improvement in both Floridians’ willingness to make big-ticket purchases and their long-term outlook on the U.S. economy. This shift is likely tied to the easing of trade tensions between the U.S. and China earlier in the month, which included a reduction in tariffs on Chinese imports. These changes have likely eased some of the pessimism fueled by earlier tariff hikes,” said Hector Sandoval, director of the Economic Analysis Program at the University of Florida’s Bureau of Economic and Business Research.
Expectations about future conditions edged up as well. Floridians’ outlook on their own financial situation a year from now increased 1.5 points to 90.6. Their expectations for U.S. economic conditions over the next year rose 2.4 points to 80.8, and views about the national economy over the next five years posted a 5.3-point gain, reaching 87.5.
The bureau cited improving inflation trends and steady job growth as contributing factors behind the rebound in sentiment. It also noted that a partial easing of trade tensions earlier in the month, including reductions in tariffs on Chinese imports, may have helped lift consumer outlooks.
However, the data showed weaker sentiment among respondents aged 60 and older, who reported more negative assessments of their current finances. Women and lower-income households also expressed more caution in their expectations for the coming year.
“[T]rade tensions and uncertainty around trade policy persist. While there has been some easing, the outlook remains unclear. The possibility of new tariff hikes still looms, and recent legal disputes have added further uncertainty,” Sandoval said. “Looking ahead, this continued uncertainty is likely to weigh on consumer confidence in the months to come.”
The survey, conducted from April 1 through May 29, gathered responses from 600 Florida residents—304 by cellphone and 296 through an online panel.
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