Floridians’ consumer confidence in April hit the highest point in more than a year.
The index jumped 6 percentage points to 71, the University of Florida announced this morning.

What it reflects: A huge 15 percentage-point jump in an underlying index that measures perceptions of whether this a good time to buy a big-ticket item, such as a car, a boat or even a house.

A rise in consumer confidence might be a sign that consumer spending will soon rise as well.
“We haven’t had any big, bad events lately and there are some positive things, like the stock market rally,” said Chris McCarty, director of survey research at UF's Bureau of Economic and Business Research.

And he notes that housing prices are stabilizing at a low level, which he says has contributed to consumers’ improved spirits.

According to the Florida Association of Realtors, the median home sales price statewide in March was almost $10,000 higher than in January. In 2008, prices were falling month to month for almost the entire year.

McCarty noted that the lowest rating ever for Floridians' consumer confidence was last June at 59. "Perhaps we really have seen the bottom," he said in a statement.

The last time the index topped 70 was in February 2008, when it reached 73.