Consumer confidence retreats - Nashville Business Journal:

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Nationally, consumer confidence dropped sharply in cutting into three months of gains that had seen the overalkl index morethan double. The Conference Board'ws Consumer Confidence Index fellby 5.5 points to 49.3 in Statewide, Florida’s consumer confidence inde x for June fell threew points last month to 68, the resultr of bad economic news including the bankruptcy of Generalo Motors Corp., foreclosures and a spike in Florida’s unemployment rate, according to a new Universitt of Florida poll.
While Floridians’ perceptions of personal financexs compared with a year ago is up three pointxs to 44 from a revised May readinggof 41, other perceptions were lower than, or the same as, last For example, perceptions of U.S. economic conditions over the next year fell seve n pointsto 65, while perceptiond of whether it’s a good time to buy big-ticket itemd fell nine points to 67. Perceptionsd of U.S. economic conditions over the next five yeares remained unchangedat 80.
"Movinfg forward, we do not expec t Florida consumer confidence to decline much more over the next couple of barring some unforeseen change here in Floridaor nationally," Chris McCarty, director of UF’s Survey Researcj Center at the Bureau of Economic and Businesz Research, said in a news However, McCarty cautioned the recovery is expected to be long and uneve for some sectors of the "With the demise of longstanding financial institutionxs such as Lehman Brothers and manufacturing companies like Chrysler and GM, it is no longeer business as usual," he said. The preliminary index for June was conductedc from430 responses.
It is benchmarked to so a value of 100 representsw the same level of confidence forthat