ECONOMY
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Consumer confidence hits highest mark in more than a year
Study by A. Gary Anderson Center shows an increase of 12 points in Q2.
BY Tina BorgattaPublished: June 11, 2009 10:53 AM
Consumer confidence in California jumped by more than 12 points between the first and second quarters of this year, pushing the composite index to 70.7, according to a study by Chapman University’s A. Gary Anderson Center for Economic Research.
The statistics suggest that consumers believe the economy has already suffered through the worst of the recession, and recovery is on the horizon.
It’s the best reading of consumer sentiment since the start of the recession more than a year ago, but it still falls far below the comfort level of 100.
“The reading of 70.7 … suggests that consumers remain pessimistic but they are less pessimistic than they were since the fourth quarter of 2007,” the study says.
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The statistics suggest that consumers believe the economy has already suffered through the worst of the recession, and recovery is on the horizon. It’s the best reading of consumer sentiment since the start of the recession more than a year ago, but it still falls far below the comfort level of 100. “The reading of 70.7 … suggests that consumers remain pessimistic but they are less pessimistic than they were since the fourth quarter of 2007,” the study says. NEXT PAGE >> Related headlines Orange County sees third largest percentage drop in unemployment in April Downtown Disney makes a match with LittleMissMatched Foothill Ranch-based C Walters Intercoastal Corp. teams with 'For Dummies' |
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