Citi California Pulse™ Survey Shows Californians
Optimistic Despite Seeing Few Signs of
Improvement in the State’s Economy
Northern Californians more optimistic than Southern Californians about economy, jobs, real estate
April 08, 2010 03:03 AM Eastern Daylight Time
SAN FRANCISCO--(EON: Enhanced Online News)--Nearly seven in 10 Californians (69 percent) say they see
few signs of the economy improving in California, according to the latest Citi California Pulse™. Nonetheless,
residents of the state remain optimistic about the economy as well as their personal finances, particularly in the next
12 months, the quarterly survey found.
From jobs to real estate to the environment for small businesses, Californians see little evidence that the economy has
turned the corner. Yet at the same time, many Californians remain optimistic, believing their personal financial
situation (67 percent), job opportunities (54 percent), and debt level (61 percent) will improve in the next 12
months. Moreover, when compared to last year, more respondents believe the state is headed in right direction, that
California is a great place to live, and that their personal financial situation, including savings, has improved.
Overall, the Citi California Pulse index of optimism rose slightly in the first quarter of 2010 (-3) when compared to
the fourth quarter of 2009 (-4), but remained below the third quarter results (-1).
“Despite the challenging conditions in our state, many Californians are optimistic about the future and about
California’s resiliency,” said Rebecca Macieira-Kaufmann, President of Citibank California. “Yet until factors such
as job creation and home prices clearly improve, many residents will continue to view the current environment as
difficult and a full economic recovery as further out in the future.”
Among the survey’s key findings:
l 91 percent say the condition of California economy is only fair or poor
l 91 percent say job opportunities in California are only fair or poor
l 76 pe