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Wednesday s Afternoon Update | 3/3/2021
February consumer confidence plummets to early days of COVID-19 era
Consumer confidence among Floridians plummeted 5.4 points in February to 77.2 from a revised figure of 82.6 in January. Similarly, consumer sentiment at the national level experienced a decline of 2.2 points. “Consumer sentiment in February is only nine-tenths of a point higher than April’s reading, the lowest level observed last year as a result of the economic damage brought by the pandemic. The drop in February wiped out almost all the gains since the index bottomed out in April,” said Hector H. Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research. All five components that make up the index decreased. More from UF News and Florida Politics.