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Jun 24, 1:02 PM EDT

Consumer confidence is dropping in Florida

GAINESVILLE, Fla. (AP) -- Consumer confidence in Florida is dipping to some of its lowest levels in the last 18 months.

The monthly University of Florida consumer sentiment released Friday measured confidence at 89, or down a point from May. This is the lowest level it has been since September 2015.

The consumer sentiment is rated on a scale of 2 to 150 benchmarked to 1966 at a value of 100.

Researchers said that Floridians, especially those who make less than $50,000, are more pessimistic about their personal finances.

Chris McCarty, director of UF's Bureau of Economic and Business Research, warned that consumer sentiment may continue to decline in the next few months due to the presidential election and the decision this week by Britain to leave the European Union.



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