Shoppers' attitudes turn more pessimistic
The national and state consumer confidence surveys dipped in June.
Published: Wednesday, July 1, 2009 at 6:01 a.m.
Last Modified: Tuesday, June 30, 2009 at 11:23 p.m.
Bad news for retailers: Consumers are in less of a mood to spend.
Consumer confidence surveys for the U.S. and Florida - which measure attitudes toward spending over time - both took a dip in June.
The Florida index fell three points to 68 in June after falling one point to 71 in May, according to the University of Florida's Survey Research Center at the Bureau of Economic and Business Research.
That survey is benchmarked to a 1966 level of 100.
The New York-based Conference Board's U.S. index fell to 49.3 from a revised 54.8 in May after surges in April and May.
May's showing was the highest since the index was at 61.4 in September 2008 and had risen from a historic low of 25.3 in February.
The Present Situation Index that measures how shoppers feel now about the economy fell to 24.8 from 29.7. The Expectations Index, which measures the outlook for the next six months, fell to 65.5 from 71.5.
Research center director Chris McCarty attributed Florida's decrease to new and increased state fees, General Motors' bankruptcy and unemployment that hit double digits.
Perceptions of personal finances compared to a year ago were up three points to 44 but were still near historical lows.
Perceptions of personal finances a year from now fell six points to 84. Perceptions of U.S. economic conditions over the next year fell seven points to 65, and perceptions of whether it is a good time to buy big-ticket items fell nine points to 67.
Perceptions of U.S. economic conditions over the next five years stayed the same at 80.
McCarty said he does not expect Florida confidence to decline much more over the next couple of months, barring unforeseen changes.
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