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UF Consumer Index Hits Lowest Point

GAINESVILLE, FL-The 25-year record is both bad and good news for retail statewide.

By Carl Cronan | Updated on June 24, 2008

(Carl Cronan is editor of Real EstateFlorida.)

GAINESVILLE, FL-The University of Florida’s monthly Consumer Confidence Index has fallen to the lowest point in its 25-year history, hitting 57 in June. That’s even below the index of 63 posted in May, which broke the previous record of 64 from December 1991.

“These are by far the worst readings we have ever seen,” says Chris McCarty, director of the Survey Research Center at the UF Bureau of Economic and Business Research. “There is no other way to interpret these numbers other than to say that Florida consumers are hurting. Based on these results, I would have to predict consumer spending in Florida to pull back dramatically in the coming months.”

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