Consumer Confidence in Florida Rises to Highest Since August 2007

28, May 2013

With recent commercial developments in the city, Gainesville has been experiencing noticeable economic growth lately. But Gainesville isn’t alone in this regard. Consumer confidence has continued to rise in Florida, marking the third straight month of increased economic outlook. In Gainesville’s Innovation Square, office space for rent is being occupied as the unemployment rate continues to fall. Commercial rentals in the research community are set to house companies looking to benefit from the University of Florida’s unparalleled research and talent.

Below is an excerpt from University of Florida News:

“Floridians’ consumer confidence rose another two points in May to 81 — a third straight month of increases for a post-recession high, according to a University of Florida survey.

‘The last time confidence was this high was August of 2007 when it was 82, shortly before the Great Recession began,’ said Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research.

Three of the five components used to determine the Florida Consumer Sentiment Index increased. Respondents’ expectations that their personal finances will improve a year from now rose three points to 82. Meanwhile, their overall confidence in the nation’s economic conditions over the coming year increased two points to 81, and their trust in the national economy over the next five years surged eight points to 85.”

With companies in Gainesville finding it easier in present times to grow and operate their business, properties for lease in Gainesville are being filled with optimistic tenants. As the confidence of Floridian consumers continues to rise, it will be interesting to see what part Gainesville will play in the state’s economic development.