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January surveys: Consumer, business confidence improve in Nebraska
Consumer and business confidence rebounded in Nebraska during January, according to the latest monthly surveys from the Bureau of Business Research at the University of Nebraska-Lincoln.
The state’s consumer confidence index, based on the monthly Survey of Nebraska Households, rose to 115.2 in January from 93.3 in December. The January value is well above the neutral level of 100.0, indicating that consumer confidence is strong. One in six respondents reported that the tax burden is the top financial issue they face. Another 9 percent reported concerns about their business or job.
“January consumer confidence returned to the high levels seen in November 2017,” said Eric Thompson, an economist and bureau director. “The rebound suggests that strong consumer confidence may be long-lasting in our state.”
There was also an increase in the state’s business confidence index, according to responses to the January Survey of Nebraska Business. The business confidence index rose to 112.2 in January from 107.5 in December.
“Business confidence remains strong in Nebraska. However, businesses continue to face challenges, including from online competitors and with workforce,” Thompson said. “In addition, health-care businesses, agricultural businesses and businesses located in rural areas were most likely to report challenges related to poor customer demand.”
The surveys are sent each month to 500 randomly selected Nebraska businesses and households. During January, 130 businesses responded to the Survey of Nebraska Business, for a response rate of 26 percent. There were 111 responses to the Survey of Nebraska Households, for a response rate of 22 percent.
For more information, the full survey report is available on the Bureau of Business Research website here.