Money & Company
Tracking the market and economic trends that shape your finances.
December 14, 2011 | 11:13 am

California consumers’ confidence plunged by about 10 percentage points in the fourth quarter of this year as the state continued to experience high unemployment and a volatile stock market rattled nerves, Chapman University reported.

The A. Gary Anderson Center for Economic Research said Wednesday that its composite index of consumer confidence fell to 78.6 in the December from 88.2 in the year’s third quarter.

Any index level lower than 100 indicates that more consumers are pessimistic than optimistic about the economy and are less willing to buy new products.

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