American consumers feel gloomier
as economic anxiety grows (despite today’s stock-market spike). Florida also seems to be losing its nerve.
The chart below tracks a three-month average of the University of Florida’s index on consumer confidence. Obviously, Floridians feel much better than they did during the recession. But there’s clearly a downward shift — just like there was in early 2011, when another promising recovery seemed to stall. The Miami Herald’s Economic Time Machine tracks 60 local indicators in an effort to chart South Florida’s recovery from the Great Recession. By comparing current conditions to where they were before the downturn, the ETM attempts to measure how far back the recession set the economy. The answer so far: June 2003. Visit ETM headquarters at miamiherald.com/economic-time-machine for the latest updates.