GAINESVILLE, Fla. (AP) - Consumer confidence Is dropping after reaching its highest level in ten years.
The monthly University of Florida consumer sentiment survey released Friday dipped more than three points point from last month.
The new survey shows that consumer sentiment was 94.1 in month of April. That’s on a scale of 2 to 150 benchmarked to 1966 at a value of 100.
The drop ends a period when confidence was rising to post-recession levels.
Chris McCarty, director of the university center that does the survey, said in a statement that the drop was due to perceptions of personal finances. McCarty noted that the most significant drop in confidence came from households with an annual income over $50,000.
He said it appears that wealthier Floridians are anticipating an economic “slowdown.”
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