A measure of consumer confidence in California has dropped significantly following Donald Trump's re-election. The Conference Board's Consumer Confidence Index for December shows a 1% decrease in the state, adding to a 10% drop in November. While Californians remain positive about the current economy, their outlook for the future has soured.
California shoppers seem wary of the upcoming White House switch, as one measurement of consumer confidence has dropped 11% since Donald Trump won another presidential term. My trusty spreadsheet looked at the Conference Board’s Consumer Confidence Index for December, tracking the nation and eight states. Confidence in the very Democratic-leaning state dipped 1% in December after an 10% dive in November following Republican Trump’s victory.
The index had been at a 14-month-high in pre-election October, but now sits only 8% above its average score since 2007. Looking inside the index, we see Californians seem OK with the current economy. The “present situation” index is up 0.4% in two months to 26% above average. It’s the Golden State’s business future that’s problematic. The “expectations” index is down 20% in two months to 5% below average.Nationally, there’s less skepticism, but U.S. confidence is off 4% in two months to 14% above average. And it’s not just a red-vs.-blue pattern. Ponder the three other states that have post-election angst, by this polling. Ohio confidence dropped 15% dip in two months to 1% above average. And Michigan is down 1% to 15% above average. Both supported Trump.Not every consumer is antsy about Trump’s promises to upend the economy with immigration crackdowns and a potential trade battle with other nations. Texas saw a 24% rise in confidence in two months to 23% above average. Pennsylvania’s up 13% to 32% above average. Florida’s up 8% to 29% above average. All supported Trump.California’s economic strength continue
CONSUMER CONFIDENCE CALIFORNIA TRUMP VICTORY ECONOMY FUTURE OUTLOOK
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