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PERSPECTIVES

California's economic pulse.

April 16, 2010
Citi, Citi

Californians are resilient -- you pretty much have to be if you live on a fault line. And when it comes to our personal finances, a new survey reveals that Californians are bouncing back -- despite their pessimism about the state's economic future.

The latest Citi California Pulseā„¢ survey found that while 69 percent of Californians say they see few signs of improvement in the state's economy, optimism about their own economic futures is on the rise. Of the 1,201 Californians surveyed, 67 percent believe their personal financial situation will improve over the next twelve months, and 54 percent expressed optimism about potential job opportunities during the same period.

Furthermore, when compared to last year, more respondents believe the state is headed in the right direction. Interestingly, the survey found Northern Californians to be more optimistic than Southern Californians. Los Angeles-area residents believe they are less likely to see economic improvement than San Francisco residents -- and while 14 percent of Bay Area residents believe job opportunities are currently excellent or good, only 5 percent in Los Angeles agree.

There's no question things are still tough in California and throughout the country. And until job creation and home prices improve, many will continue to view the overall economic environment as difficult. But, we know that optimism is a key ingredient of any recovery, and it's a good sign that Californians feel stronger about their own prospects than a year ago.

Click here to learn more about the survey's findings and methodology.

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