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Citi Economic Pulse Survey: Californians Enjoy A Shift In Financial Mindset; More Than Half Comfortable With Personal Savings And Debt Levels

Stocks in this article: C

Among the key findings:

  • 16 percent of Californians rate the current economy as excellent or good, a five-point increase from the 11 percent who said the same one year ago.
  • 70 percent of unemployed Californians are optimistic that their own future will improve, saying they think things will get better in 2013.
  • Almost half (47 percent) of retirees say they are optimistic that their own situation will improve.
  • Despite the pay gap, Californians are in agreement, as 66 percent of those making less than $30,000 annually and the same proportion of those making more than $100,000 express optimism that their own situation will improve in the coming year.

When asked about New Year’s financial resolutions, Californians have plans that include: saving more money (24 percent), earning more money (19 percent), and having less debt (15 percent).

“These results show that Californians are turning a corner and moving forward,” said Macieira-Kaufmann. “It’s encouraging to see optimism on the rise.”

About the Survey

The Citi Economic pulse survey interviewed 1225 Californians from November 13 th to November 16 th, 2012. The statistical margin of sampling error is = ±2.80 percentage points for statewide results and is higher for subgroups and specific regions of the state.

About the Citi Economic Pulse in California

The Citi Economic Pulse in California is calculated by subtracting negative responses to each item from the positive responses for all 8 index items. The Index scale can range from +100 (if every respondent gave positive response to each of the 8 questions) to -100 (if all respondents expressed consistently negative views).

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi



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