California consumer confidence has plummeted to levels not seen since the pandemic\u2019s economic upheaval.<\/p>\n
My trusty spreadsheet\u2019s review of the Conference Board\u2019s Consumer Confidence Index<\/a> for California found that shopper psyche plunged 16% in November from October. This pushed the measure down to a level last seen in December 2020. Much of the index\u2019s polling for this report took place before the 43-day shutdown ended on Nov. 12<\/a>.<\/p>\n This Golden State optimism tally is now 25% below its average since 2007. Plus, it hit its lowest November reading since 2012, and is not the consumer buoyancy merchants would like to see during the holiday shopping rush.<\/p>\n Consumers juggle numerous challenges. The federal government shutdown, no matter who you blame, rattled nerves. Perhaps its resolution will revive sinking financial sentiments.<\/p>\n Still, the job market appears wobbly<\/a>. Immigration crackdowns are unnerving a part of the population. Plus, the state government budget has another huge shortfall.<\/p>\n And while budget-busting inflation has decreased from its recent peak, it\u2019s worrisome that it\u2019s still not resolved for most shoppers\u2019 satisfaction<\/a>. The key price watchdog, the Federal Reserve, also seems more anxious about the employment picture<\/a>.<\/p>\n Slumping slices<\/p>\n The California index tracks two slices of shopper sentiment, neither of which reveals much economic enthusiasm.<\/p>\n Its \u201cpresent situation\u201d index \u2013 measuring current conditions \u2013 dropped 11% in November to a low last seen in mid-pandemic March 2021. It\u2019s also 10% below average.<\/p>\n The \u201cexpectations\u201d index \u2013 gauging consumers\u2019 financial outlook \u2013 was off 22% in November to its lowest level since October 2011. It\u2019s now 37% below average.<\/p>\n Nationally nervous<\/p>\n U.S. consumers were spooked, too, but not as much as the Golden State.<\/p>\n The overall national confidence index was off 7% in a month to a seven-month low and is 3% below its 19-year average. This was the weakest November confidence since 2013.<\/p>\n The nationwide view of current conditions fell 3% in a month to its lowest since September 2024. But this yardstick remains 20% above average.<\/p>\n The future is murky, nationally, too. The expectations index was off 12% to a seven-month low and sits 24% below average.<\/p>\n Stately unease<\/p>\n Five of the seven other big states tracked by the Conference Board saw optimism drop \u2013 but no political pattern emerges.<\/p>\n Michigan: Down 22% in a month to the lowest level since June 2014 and 9% below average.<\/p>\n Florida: Down 15% in a month to the lowest since April 2025, but 8% above average.<\/p>\n Ohio: Down 10% in a month to the lowest since October 2016 and 7% below average.<\/p>\n Illinois: Down 8% in a month to the lowest since October 2020 and 6% below average.<\/p>\n Pennsylvania: Down 8% in a month to the lowest since September 2024 and 4% below average.<\/p>\n And the two gainers couldn\u2019t be more different, politically speaking. For example, New York City just elected a democratic socialist as its next mayor.<\/a> Texas leans conservative.<\/p>\n New York: Up 13% in a month and to 29% above average.<\/p>\n Texas: Up 9% in a month and to 2% below average.<\/p>\n