Floridians are optimistic about the US economy but less confident about the finances

Floridians are optimistic about the US economy but less confident about the finances

While Floridians are optimistic about the U.S. economic recovery from the COVID-19 pandemic, many residents believe their finances will not return to normal until later this year or even beyond 2022, according to a survey conducted in statewide by the Florida Atlantic University Business and Economics Polling. Initiative (FAU BEPI).

The survey showed that 36% of those polled were optimistic about the country’s economic conditions over the next 12 months, while 28% were pessimistic. But personal money issues were another concern, with 21% saying it will take six months to a year for their finances to recover and 10% saying it will be later in 2022 or beyond.

As a result, consumers are more keen to try new brands of products to save money. The survey found that 43% of the 436 respondents are more often switch to cheaper products and 30% are more often researching brand and product choices before buying.

“With the continued pressure on household incomes, consumers have changed their buying mindset since the start of the COVD-19 pandemic,” said Monica Escaleras, Ph.D., director of FAU BEPI at the College of Business. “People are concentrating more on better value than brand loyalty, and …

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