Date: 01/23/2006

California consumer confidence rebounded from a record low in September to a new high in January, driven by dramatic gains in future expectations, according to the Survey and Policy Research Institute at San José State. Overall, the Index of Consumer Sentiment for California now stands at 99.2, its highest level since January 2004 when SPRI began measuring consumer confidence statewide. From 82.3 in September, the 17-point gain mirrors a 15-point increase for the United States over the same period (from 76.9 to 91.5), reported by the University of Michigan. “While consumers’ assessments of their own current conditions are still more positive than future expectations, that gap is starting to close,” said Melinda Jackson, survey director and assistant professor of political science at SJSU. "People are less anxious about what lies ahead than they were last fall, and this may indicate a renewed willingness to spend on consumer goods and services in the coming months." See www.sjsu.edu/spri/ and click on Consumer Confidence.