Californians\u2019 anxiety about the new administration\u2019s unorthodox policies has dipped, as one measure of optimism hits a six-month high.<\/p>\n
My trusty spreadsheet peeked at the Conference Board\u2019s Consumer Confidence Index<\/a> for August. This polling tracks shoppers\u2019 psyche in eight states, including California, and the nation. The mood of shoppers is critical to the broad economy, as consumer spending is two-thirds of all business activity<\/a>.<\/p>\n Statewide, confidence has risen 18% since April\u2019s recent low when fears peaked as President Donald Trump unveiled an aggressive trade policy that unraveled years of international economic serenity.\u00a0Some of the predicted fallout of higher tariffs, such as sharply rising prices of consumer goods<\/a>, has yet to materialize.<\/p>\n Don\u2019t forget that this is a state with a decidedly different global view than Trump\u2019s. So, the summer uptick in California optimism does not signal full acceptance of the administration\u2019s thinking.<\/p>\n Note that California confidence is still off 22% since October, just before Trump won his second term in the White House. California confidence is also 5% below the index\u2019s average since its inception in 2007.<\/p>\n Look inside<\/p>\n A peek inside the index shows how the economic emotions are evolving.<\/p>\n Californians\u2019 view of current conditions \u2013 the \u201cpresent situation\u201d index \u2013 is at a three-month high. It\u2019s up 14% since April, yet it\u2019s down 8% since pre-election October. Still, August\u2019s reading was 15% above average.<\/p>\n It\u2019s the future that is very cloudy.<\/p>\n California\u2019s \u201cexpectations\u201d index was off 3% in June but is 21% higher since April. However, the Golden State\u2019s future view is 34% worse since October and is 21% below the 19-year average.<\/p>\n American difference<\/p>\n National optimism never got as dour as California under Trump, so its recent rebound is muted.<\/p>\n