California’s consumer confidence index increased 2.7% to 92.3 in the second quarter of the year, the highest confidence level since 2007, according to the Chapman University’s Anderson Center for Economic Research.
However, the report released Wednesday by the center said an index level below 100 reflects a higher percentage of pessimistic consumers.
The national consumer confidence index published by the University of Michigan also rose 4 points to 79.3 in May compared to it February reading.
The center’s index that measures future economic conditions fell to 96.2 in May from a revised reading of 106.9 in February.
“The uncertainty emanating from potential tax increase both at the state and federal level is negatively impacting consumers’ outlook for future conditions,” the report said.
