Saturday, January 6, 2024 / by Richard Eimers
By Amy Connolly
Although UF’s monthly consumer confidence survey ended the year on a high note, the survey marked its third lowest level since it began in 1985.
GAINESVILLE, Fla. – Consumer sentiment in Florida inched up for a third consecutive month in December to 69.5, gaining 1.2 points from a revised figure of 68.3 in November. Meanwhile, national consumer sentiment surged by 8.4 points, the University of Florida found in its monthly consumer confidence survey.
The annual average consumer confidence ended 2023 at 67.9 points for the year, marking the third-lowest level on record since the series began tracking consumer confidence in 1985, UF researchers said. The lowest on record was 64.3 in 2022 and the second lowest was 65.6 points in 2008, said Hector H. Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research.
The survey looks at five components that make up the index. December’s survey showed an increase ...
Thursday, September 21, 2023 / by Richard Eimers
With a nod to the economy having “mixed signals,” Fannie Mae’s 3Q forecast calls for a “modest contraction” and mortgage rates “settling above 7%.”
WASHINGTON – The key question for economists: Is the U.S. headed toward a soft landing or a mild recession?
According to September 2023 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group, it’s a modest contraction.
“Mixed signals from key economic data releases continue to muddle the near-term outlook and the answer to that question, but a modest contraction remains the most likely outcome as consumption continues to outpace incomes and previous monetary policy tightening works its way through the system,” the report says.
The housing market faces renewed headwinds with mortgage rates settling above 7%, according to the ESR Group. Still, the downside risk to total home sales is limited as more sales are being driven by life events rather than d ...