Californians' economic hopes drop 23% since Trump election

"High anxiety is seen when measuring average results for the three months ending in October and the same period 12 months earlier, just before Trump won the presidential election. The most striking change is the 23% slide in the expectations slice of the confidence index basically, the Californian view of the financial future. That put this yardstick of economic hopes 16% below its average since 2007."

"A glum outlook is the key reason the statewide confidence index is down 18% in the past year, falling to a level that's 7% below average. California's global orientation doesn't align well with Trump's domestically focused policies. The Golden State economy the nation's largest and the fifth-largest globally struggles with the new administration's immigration crackdowns and heightened trade tensions stemming from tariff battles. This year, Californians have seen job growth cool, pay raises shrink and inflation rekindle."

The Conference Board's consumer confidence index for California records a 23% decline in the expectations component since Donald Trump's second White House victory, placing expectations 16% below their 2007 average. The statewide confidence index sank 18% over the past year to a level 7% below average. California's present-conditions index fell about 13% year over year but remains roughly 5% above its historical average. The state's globally oriented economy faces pressure from immigration crackdowns and intensified trade tensions tied to tariffs. Recent trends include slower job growth, smaller pay raises, and revived inflation. Nationally, expectations are down 15% year over year and overall U.S. confidence is down 8% but remains above long-run averages.

Read at www.ocregister.com