UF survey shows steep drop in Florida consumer sentiment in August

A University of Florida survey assessing consumer confidence in the state’s economy measured a notable decline in August.

UF researchers found that consumer sentiment fell 3.5 points to 80.6, down from July’s revised figure of 83.7.

The survey is overseen by Hector H. Sandoval , Director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research . He said the latest decline in consumer sentiment is one of the most dramatic drops this year.

“This marks the second-largest monthly decline in sentiment this year, surpassed only by the 5.9-point drop recorded in March. Moreover, the July figure was revised slightly downward from 83.9 to 83.7, now resulting in a monthly decline in sentiment,” Sandoval said.

“August’s decline reflects growing pessimism