Swift Swings examines a single economic trend in brief.
One indicator of consumer confidence has fallen 11% since Donald Trump was elected to a second term in office, suggesting that California consumers are nervous about the impending change of the White House.
The Consumer Confidence Index for December, which tracked the country and eight states, was examined using my reliable spreadsheet.
A 10% decline in November following Republican Trump’s victory caused confidence in the heavily Democratic state to drop 1% in December. In pre-election October, the index reached a 14-month high, but it is currently only 8% higher than its average score since 2007.
Californians appear to be content with the state of the economy, according to the index. In just two months, the current situation index has increased by 0.4%, reaching 26% over average.
The issue is with the Golden State’s business future. The expectations indicator is now 5% below average, down 20% in just two months.
Although skepticism is lower nationwide, U.S. confidence is 14% above average, down 4% in just two months.
It’s not just a red-versus-blue pattern, either. Think about the three other states that, according to this polls, are experiencing post-election anxiety.
In just two months, Ohio confidence fell 15%, yet it is now 1% above normal. Additionally, Michigan is down 1% to 15% more than usual. They both backed Trump.
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However, New York, where Trump defeated, has confidence that is 28% above average, down 5% in just two months.
Trump’s pledges to disrupt the economy through immigration restrictions and a possible trade war with other countries have not alarmed all consumers.
Following the vote tally, these measures indicate that consumers in four states are more motivated.
In just two months, confidence in Texas increased by 24% to 23% over the national average. Pennsylvania is 13%–32% over the national average. Florida is 8% to 29% over the national average. Everyone backed Trump.
However, optimism is up 6% to 43% over average in Illinois, which Trump lost.
Keep in mind that California’s economy remained strong in the first year of Trump’s previous administration.
The Southern California News Group’s business columnist is Jonathan Lansner. His email address is [email protected].
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No. 6:
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No. 10:
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