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California Consumer Confidence Index Back at Record High

Wednesday, March 28, 2018

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Source: Orange County Register 

California shoppers continue to see through various bits of economic and political turmoil to push one measure of statewide consumer optimism to a new record high.

The March reading of the Conference Board’s Consumer Confidence Index shows California’s benchmark rising to a new high, breaking the previous peak set in December.

The data show California shopper’s confidence in current conditions sits just below a record set in December while their outlook for the financial future hit a new high in March.

California confidence, by this yardstick, has grown at an annualized rate of 9 percent in the 14 months since Donald Trump became president. That’s the same annual pace of improvement seen in the previous eight years when Barrack Obama was in the White House.

Growing shopper optimism was seen in most big states tracked by the Conference Board. For example, the Illinois index also hit a record high in March, its second month in a row.

Good vibes were near record territory elsewhere, too. Four states had their confidence index fall off highs set in February: Texas, New York, Pennsylvania and Ohio. And Florida’s index rose to just below a record high that dates to 2007.

Michigan was the outlier, with confidence falling to a six-month low.

By the way, the national index for March was off from an 11-year high set in February.

Photo by: Michael Owen Baker

Category: Economic Development

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