The nation's economy might be slowing down, but consumer confidence in California is the highest it's been in five years.
Chapman University said today its index of consumer confidence has jumped 5 points since the second quarter. The index now clocks in at 94.2, up from 89 in the second quarter. Chapman said the index has been steadily climbing since it fell to 57.6 in the second quarter of 2008.
The Orange County university has been surveying Californians on their consumer confidence for the past decade.
A reading of 94.2 is still not terrific. Any number below 100 suggests there are more pessimistic Californians than optimists.
And one of Chapman's sub-surveys shows an increasing reluctance to spend heavily. The index measuring plans to spend on big-ticket items actually fell to 86.1 from 96 a quarter earlier. Chapman said rising gas prices might be the reason.
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