Florida Economy in good shape

Consumer confidence among Floridians in June rose four points to 90, reflecting optimism about the long-term future of the U.S. economy.

“The rise in confidence comes as a surprise given what is happening in the economy that should be affecting consumers,” says Chris McCarty, director of the survey research center at UF’s Bureau of Economic and Business Research. “Gas prices declined a bit in June, but so did the stock market. The Federal Reserve has induced rises in interest rates on credit cards and home loans. It’s unclear why consumers are so optimistic about the future.” Maybe it is because the Fed. Chair. signaled that the possible end in prime rate increases.