Bubble Watch: What does a down year for California consumer confidence tell us?

“Bubble Watch” digs into trends that may indicate economic and/or housing market troubles ahead.
Buzz: California consumers finished 2019 on an up note, but the confidence index’s four-month high ended an otherwise downcast year.
Source: Conference Board
The Trend
The state’s confidence index of 119.4 for December marked an increase of 5% in a month. Still, that’s down 9% in a year. For all of 2019, California’s confidence was, on average, down 4% after rising