Florida consumer index holds steady
Published: Wednesday, October 1, 2003 at 6:01 a.m.
Last Modified: Tuesday, September 30, 2003 at 11:02 p.m.
Consumer confidence in Florida remained stable this month, but some residents may be losing faith in their spending power, according to a report released Tuesday by the University of Florida.
The preliminary consumer confidence index in September stayed at 90, unchanged from August, according to UF's Bureau of Economic and Business Research. But there were declines in some components of the index, including an area that measures consumers' perceptions about buying major household items, which fell seven points.
Rising mortgage rates have slowed refinancing activity, which for months has freed up money for households to make large purchases, the study said. Other components of September's index rose, including an area that measures expectations about personal finances, which jumped two points compared to last year. The monthly study is compiled from the responses of randomly-telephoned households around the state.
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