California consumer confidence slips to 3-month low

"California shoppers' optimism hit a three-month low, according to new polling data. My trusty spreadsheet's review of the Conference Board's Consumer Confidence Index for California showed a 4% decline in this shopper psyche measurement from August to September. This index is based on consumer surveys. Golden State confidence has declined 23% over the past year and is 9% below its average dating to 2007."

"Think about the two parts that comprise this confidence index. California's present situation index tracking impressions of current economic conditions was off 8% for September to a five-month low. It's off 22% year-over-year yet remains 1% above its 19-year average. However, the future remains the biggest question mark. California's forward-looking expectations index did rise 1% in a month to its highest level in seven months. But it's down 24% in a year and is 16% below average."

"The White House's unorthodox business policies have shaken the economy statewide and nationally. The Federal Reserve's recent interest rate cut was a signal that the economy is, at best, cooling. Nationwide polling found U.S. confidence fell 4% in a month to a five-month low and has declined 5% over the past year. However, the index is 3% above its average since 2007."

California consumer confidence fell 4% from August to September to a three-month low, down 23% year-over-year and 9% below its 2007-era average. The present situation index declined 8% in September to a five-month low, off 22% year-over-year but still 1% above its 19-year average. The forward-looking expectations index rose 1% month-over-month to a seven-month high, yet remains down 24% year-over-year and 16% below average. Nationwide consumer confidence dropped 4% in a month to a five-month low and is 5% lower than a year ago, while the Federal Reserve's recent interest rate cut signals a cooling economy.

Read at www.ocregister.com