Consumer confidence showed virtually no change while business confidence remained positive in Nebraska during August, according to the latest monthly surveys conducted by the Bureau of Business Research at the University of Nebraska-Lincoln.
Nebraska’s Consumer Confidence Index had a reading of 97.4 in August, similar to the reading of 97.5 in July. Both the August and July readings were the highest of the year but remain below the baseline value of 100, which indicates neutral confidence. The Consumer Confidence Index-Nebraska is estimated based on responses to the Survey of Nebraska Households.
“The August value confirms the July increase in Nebraska consumer confidence,” said Eric Thompson, an economist and director of the bureau. “Consumer confidence, however, remains a slight negative for the Nebraska economy.”
Business expectations, by contrast, remain a source of strength for the state economy. Business expectations for both sales and employment were positive during August, with 29 percent of businesses expecting sales to increase over the next six months and just 24 percent expecting sales to decline. Fifteen percent of businesses expect to increase employment compared to 13 percent that expect to reduce it.
“Business survey results indicate solid sales and employment growth in Nebraska for the rest of 2016 and into early 2017,” Thompson said.
The surveys are sent each month to 500 randomly selected Nebraska businesses and households. In August, 96 businesses responded to the Survey of Nebraska Business, for a response rate of 19 percent. There were 122 respondents to the Survey of Nebraska Households, for a response rate of 24 percent.
For more information, the full survey report is available on the Bureau of Business Research website here.