Home

SAN FRANCISCO, April 9 (Reuters) - Californians' long-term view of the economy dimmed in March as a widely watched index measuring consumer confidence dropped 4 points, according to a survey released on Friday.

Sagging expectations, especially in Southern California, pulled the overall California Index of Consumer Sentiment down to a score of 93.1 in March from 97.1 in January, the most recent month a report for the index was issued, according to San Jose State University.

While the long-term view was dimmer, the university's index measuring current economic conditions edged upward to 100 in March from 98.8 in January.

"People still think it's a good time to buy homes, cars and major household items, but more people are worried that business conditions will not be better a year from now," said Philip Trounstine, director of the university's Survey and Policy Research Institute.

Across California, 43 percent of consumers in March reported they were better off financially compared with a year earlier, up a mere 1 point from 42 percent in January, according to the survey.

Looking forward, 43 percent of California consumers said they would be better off in a year, compared to 46 percent in January, reflecting increasing uncertainty about the economy's direction, especially in Southern California, Trounstine said.

In Los Angeles, 43 percent of consumers said they expect better times in a year, down from 51 percent in January. Elsewhere in Southern California, 42 percent said they expect to be better off financially in a year, compared with 47 percent in January.

By contrast, in the San Francisco Bay area where the long high-tech slump hammered the regional economy, outlooks have improved: 44 percent of consumers there expect to be better off financially in a year, compared with 40 percent in January.

More News:

4-09-04 Consumer Confidence Plummets in U.S.

4-09-04 Corporate scandal no excuse for tax deduction, IRS asserts

4-09-04 Don't let deadline for IRA tax break slip past you

4-09-04 Dow Ends Down on Iraq Fears, Nasdaq Gains

4-09-04 Earnings Take Spotlight, But Iraq Looms

4-09-04 Economy gets two positive signals

4-09-04 Experian Ranks 20 Major U.S. Metropolitan Areas By Credit Score

4-09-04 Kerry works to shift focus back to jobs, economy

4-09-04 Most Hispanics Don't Collect Tax Credits

4-09-04 New Fashions Lift U.S. Retailers in March

4-09-04 That new credit card may hurt your rating

4-09-04 The trouble with taxes

4-09-04 U.S. mortgage bonds fall but fare well in week

Financial News