Fla. consumer confidence surges upward in January

 Consumer confidence among Floridians surged up in January, up seven points to 77 from a revised December reading of 70, marking a steady rise in optimism, according to the University of Florida’s monthly survey. Employment gains, especially in trade, transportation and utilities, may help explain the boost in confidence.

Four of the five categories measured by the survey showed an increased optimism. One category that asks survey takers if they’re better off financially than they were a year ago rose four points to 60, its highest level since March 2008 when the U.S. economy began to decline. Expectations that their personal finances will improve by this time next year rose eight points to 86.

And, although gas prices have gone up nearly 20 cents a gallon over the past month, inflation overall remains low. Also, interest rates are still at near record lows and the Federal Reserve has presented plans to keep them low for the next two years.

Only one category dropped – whether or not it’s a good time to buy big-ticket items like cars or  refrigerators, which fell four points to 81.

Source:Florida Realtors