Floridians’ consumer confidence fell in February, as hopes dimmed that the nation would find a quick fix for the troubled economy. Nationwide, consumer confidence is now at an all-time low.

The University of Florida says its index of Florida’s consumer confidence fell three points to 63. Survey Research Center Director Chris McCarty of the Bureau of Economic and Business Research said the indicator fell because “the novelty of
a new administration met with the sustained reality of a faltering
economy."

February's Consumer Attitude Survey index was four points above the all-time low of 59.

The index has five components and each one declined. They are: Expectations for the nation’s economy over the next five years, expectations about personal finances one year from now, current perceptions of personal finances and consumers’ view on whether now is a good time to buy big-ticket consumer goods.

Consumer confidence is considered a key economic indicator. But consumer attitudes won’t turn up until consumers see a clear signal that things are
improving, McCarty said.

"There is no doubt that we will be
working through this recession through this year and into 2010," he predicted.