The California Composite Index of Consumer Confidence increased to 84.2 in August, slightly higher than the May reading of 82.7, according to a survey conducted by the Anderson Center for Economic Research at Chapman University. An index level lower than 100 reflects a higher percentage of pessimistic consumers compared with those who are optimistic. The Chapman Survey contrasted with a similar survey conducted by the University of Michigan, which showed that consumer confidence at the national level had a lower reading in August than May.
The index measuring consumers’ spending plans on big-ticket items improved to 77 in August, while the index measuring current economic conditions increased to 71.9. The index measuring future economic conditions showed a decline to 100.1 in August from a reading of 105.1 in May.
Source: Chapman University
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