Florida consumer confidence holds steady in the month of August

August rate matched the July rate

GAINESVILLE, Fla. (AP) -- Consumer confidence in Florida is remaining steady.

The monthly University of Florida survey released Tuesday shows the state's consumer confidence was 77 in the month of August. That's on a scale of 2 to 150 benchmarked to 1966 at a value of 100.

The August rate matched the July rate, which itself was a sharp drop from previous months.

Chris McCarty, who directs the survey, said that overall pessimism was driven primarily by concerns over personal finances and buying conditions.

He said also said that pessimism among low-income and younger Floridians is spreading to older and higher-income Floridians.

McCarty did note that there are other positive economic trends happening in the state, although he cautioned a contentious debate over the federal debt ceiling could affect consumer confidence in September.

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