Date: 04/25/2005

California consumer confidence slumped statewide in the first quarter of 2005, lower than it was a year ago, says the latest California Consumer Confidence Survey from the Survey and Policy Research Institute at San José State University. However, for the first time, consumer confidence in the Bay Area was the most positive in the state, surpassing the March index measured by the University of Michigan. "Consumers throughout the state are doing worse financially than they were three months and a year ago," said Miriam Donoho, professor of marketing and director of the survey. "Increased gasoline prices and a weak stock market appear to have undercut hopes for better personal financial conditions in the future. People believe prices will continue to rise and so we see a cautious attitude about future spending," she said. For the results, see http://www.sjsu.edu/spri/.