Did the failed California recall increase consumer confidence? –Silicon Valley

“” Bubble watch Delves into trends that may indicate future economic and / or housing market problems.

Buzz: Three indicators show growing optimism among Californian consumers after a failed effort to bring back the governor.

sauce: Monthly polling of shoppers by The Conference Board creates a variety of consumer confidence indexes, including those in California. trend

Following a brief victory over Governor Gavin Christopher’s recall supporters on September 14, consumer confidence across the state increased. The overall index rose from 108.8, which was revised a month ago, to 117.4 in October. It has also increased from 93.7 in October 2020.

This is an 8% increase in 1 month and a 25% increase in 12 months. It also exceeds the average of 113 for this California optimism seen in the five years before the pandemic.

A pandemic has also occurred. The state’s late summer / early fall success for delta variants was another emotional rise for consumers. Needless to say, 800,000 workers have been added to California salaries since January. That’s one-sixth of all US employment growth.

Let’s take a look at the two measures in the index …

1. California consumers’ view of the current situation is 150.1, up from 132.2 a month ago to 93.8 a year ago. This measurement averaged 141 between 2015 and 2019.

2. The outlook for shoppers across the state was 95.6, more optimistic than 93.2 last month, up from 93.6 the previous year. This measurement averaged 94 between 2015 and 2019. Anatomy

The overall rise in confidence of California shoppers seems to be slightly brighter than elsewhere in the country.

Take a look at the October index by The Conference Board for seven other states (Texas, New York, Florida, Illinois, Pennsylvania, Ohio, Michigan) and across the country.

Overall confidence: The five states were more optimistic than in September, and all rose through October 2020. Public confidence has risen for a month and has risen for 12 months.

current situation: Four states increased compared to September, all increased in one year. The number in the United States increased for a month, increasing for more than 12 months. Outlook: Six states increased compared to September, and three states increased in a year. The number in the United States increased for a month, but decreased for more than 12 months. Another view The Conference Board also asks consumers across the country about the job market and plans to make large purchases within the next six months. During October … Do you have more work in the future? 25.4% answered “yes”. It increased from 21.3% in September, but decreased from 32% 12 months ago. Buy a house? 7.3% — An increase from 5.3% a month ago and an increase from 6.1% 12 months ago. Buy a car? 10.7% — An increase from 9.8% a month ago and an increase from 9.6% 12 months ago. How about white goods? 49% — An increase from 46.4% a month ago and an increase from 43.3% 12 months ago. How do you foam? On a scale […]

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