Press "Enter" to skip to content

California consumer confidence index at 28-month high

A statewide consumer confidence index confirms what crowded shopping centers, filled attractions and jammed freeways suggest: California’s shopper psyche is at a 28-month high.

The Conference Board’s polling put its consumer confidence index for California at 127.9 for June — up from a revised 118.2 a month earlier and up from 77.5 in the locked-down economy of a year ago. The 8% one-month gain and a 65% gain over 12 months can be tied to reopening the state’s economy after widespread vaccinations lowered coronavirus health risks.

The last time this benchmark was higher was well before the pandemic in March 2019. California confidence averaged 113 in the five years before coronavirus chilled the economy.

Let’s look at two measures inside the index …

1. California consumers’ view of current conditions scored 144.7 — up from 124.4 a month earlier and above 44.8 a year earlier. This measure averaged 141 in 2015-19.

2. Shoppers outlook statewide scored 116.7, more optimistic than 114.1 the previous month and up from 99.3 a year earlier. This measure averaged 94 in 2015-19.

Home Stretch newsletter follows SoCal housing! Subscribe here.

Big states? The Conference Board tracks seven other states, and for June, overall consumer confidence rose in five: New York, Florida, Pennsylvania, Ohio and Michigan. Over 12 months, optimism is up in all seven — the five already mentioned, plus Texas and Illinois.

Among the states tracked, current conditions were better in six for the month — all but Pennsylvania. Over 12 months, views of today’s economy rose in all seven.

Expectations rose in five states for the month — all but Texas and Illinois. Over 12 months, future feelings improved in Texas, New York and Pennsylvania

Nationally? The U.S. consumer confidence is up to 127.3 in the month vs. 120 a month earlier and up from 98.3 a year ago.

U.S. shoppers’ view of current conditions increased in the month and was higher over 12 months. Meanwhile, consumers’ economic hopes nationwide were better compared to the previous month and more optimistic vs. a year earlier.

National outlook for jobs? 25.7% of consumers see more jobs six months from now vs. 27.7% a month earlier and 38.4% a year ago. The 2015-19 average was 17.4%.

As for two major purchases, the national view …

Plans to buy a home within six months? 10.7% this month vs. 10% a month earlier and 6.8% a year ago. The 2015-19 average was 6.1%.

Car purchase plans? 6.1% this month vs. 5.3% a month earlier and 11.9% a year ago. The 2015-19 average was 12.6%

Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com

{related_articles location=”left” show_article_date=”false” article_type=”automatic-primary-tag”]

 

 


Source: Orange County Register

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *