Florida consumer confidence falling

Posted at 10:07 PM, Jan 29, 2016
and last updated 2016-01-29 22:07:07-05

GAINESVILLE, Fla. (AP) — Consumer confidence in Florida is falling slightly amid concerns about turmoil in the stock market.

The monthly University of Florida consumer sentiment released Friday measured confidence at 91.5, or a decrease of one-tenth of a point from December. It's substantially lower than it was a year ago.

The consumer sentiment is rated on a scale of 2 to 150 benchmarked to 1966 at a value of 100.

Hector Sandoval, director of the economic analysis program at UF's Bureau of Economic and Business Research, said that while economic data in the state continues to be mostly positive people are concerned about U.S. economic conditions.

Sandoval said one of the reasons could be the recent turmoil in the stock market and deterioration in the Chinese economy.