Consumer confidence retreats - Phoenix Business Journal:

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Nationally, consumer confidence droppeed sharplyin June, cutting into three monthas of gains that had seen the overall index more than The Conference Board's Consumer Confidence Index fell by 5.5 pointe to 49.3 in June. Florida’s consumer confidence index for June fell thres points last monthto 68, the resuly of bad economic news including the bankruptcy of Generall Motors Corp., foreclosures and a spikd in Florida’s unemployment rate, accordinbg to a new University of Florida While Floridians’ perceptions of personal financeds compared with a year ago is up threse points to 44 from a revisedr May reading of 41, other perceptionxs were lower than, or the same as, last month.
For perceptions of U.S. economic conditions over the next year fell sevem pointsto 65, while perceptions of whether it’s a good time to buy big-ticketr items fell nine points to 67. Perceptionss of U.S. economic conditions over the next five years remainee unchangedat 80. "Moving forward, we do not expectg Florida consumer confidence to decline much more over the next couple of months, barring some unforeseen change here in Floridas or nationally," Chris director of UF’s Survey Researcu Center at the Bureau of Economi and Business Research, said in a news However, McCarty cautioned the recovery is expectedc to be long and uneven for some sectors of the economy.
"Withj the demise of longstanding financial institutions such as Lehmanj Brothers and manufacturing companiee like Chryslerand GM, it is no longer businessd as usual," he said. The preliminary indexc for June was conducted from430 responses. It is benchmarkedd to 1966, so a valued of 100 represents the same level of confidence forthat