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Fla. Consumer Confidence Takes Unexplained Dip

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File photo of a person holding money. (Photo by JUAN BARRETO/AFP/Getty Images)

File photo of a person holding money. (Photo by JUAN BARRETO/AFP/Getty Images)

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GAINESVILLE, Fla. (AP) — Consumer confidence in Florida is suddenly on the decline.

The monthly University of Florida survey released Tuesday shows the state’s consumer confidence sank three points in July to 78. That’s on a scale of 2 to 150 benchmarked to 1966 at a value of 100.

The score caught researchers by surprise since Florida’s score has been edging upward for months. The score also rose slightly last month at the national level.

Chris McCarty, who directs the survey, says the numbers may reflect a sense of pessimism among younger Floridians who are not being helped by the economic recovery.

McCarty also says the drop could be to some Floridians finally being impacted by federal budget cuts including those in programs that lower income workers depend on.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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