Gas Prices Eroding Consumer Confidence in Florida

Floridians are getting worried about the economy, according to the Jacksonville Business Journal:

Florida’s consumer confidence took another hit in August, dropping three points to 92, as consumers worried about rising fuel costs.

The two components that measure perceptions of the national economy each fell five points — perceptions of economic conditions over the next year and the next five years.

Two of the other five components also fell. Perceptions of personal finances a year from now dropped three points, and perceptions of personal finances compared to a year ago fell one point.

“The consumer confidence survey is clearly reflecting concerns over energy costs, both in the short run and the long run,” said Chris McCarty, director of the survey research center at UF’s Bureau of Economic and Business Research.

I know I feel damn gloomy. I can’t believe how much I’m spending on gas now, compared to a few months ago, and I get 30 miles per gallon. I don’t even want to think about what will happen to my own personal finances if it keeps going up.


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