A decline in the confidence of Los Angeles County consumers continues–raising concern about where the local economy is heading, since consumer spending accounts for about 70% of economic activity in our communities.
According to the index recently released by the Lowe Institute of Political Economy at Claremont McKenna College, Los Angeles consumer sentiment declined by approximately 2% in the first quarter of 2017, following a sharp 12 % decline in the fourth quarter of 2016.
Looking at the responses to this year’s survey, consumers were generally more positive than negative. Nevertheless, consumer confidence continues on the downward spiral.
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