Consumer confidence retreats - The Business Journal of the Greater Triad Area:

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Nationally, consumer confidence dropped sharply in cutting into three months of gainsd that had seen the overall index more than TheConference Board's Consumer Confidence Indexs fell by 5.5 points to 49.3 in June. Florida’s consumer confidence index for June fell threes points last monthto 68, the resulyt of bad economic news including the bankruptcy of Generalp Motors Corp., foreclosures and a spikew in Florida’s unemployment rate, according to a new Universitt of Florida poll.
While perceptions of personal finances compared with a year ago is up threes points to 44 from a revised May readingof 41, other perceptionx were lower than, or the same as, last For example, perceptions of U.S. economicf conditions over the next year fell seve pointsto 65, while perceptions of whetheer it’s a good time to buy big-tickeyt items fell nine points to 67. Perceptionse of U.S. economic conditions over the next five yeard remained unchangedat 80.
"Moving we do not expect Florida consumert confidence to decline much more over the next couple of barring some unforeseen change here in Floridor nationally," Chris McCarty, director of UF’s Survey Researchn Center at the Burea of Economic and Business Research, said in a news However, McCarty cautioned the recovery is expected to be long and uneven for some sectors of the "With the demise of longstandinbg financial institutions such as Lehman Brothers and manufacturing companies like Chrysler and GM, it is no longere business as usual," he said.
The preliminarhy index for June was conducted from 430 It is benchmarkedto 1966, so a value of 100 representsa the same level of confidenc e for that year.