January surveys: Nebraska businesses, consumers are resolute
Consumer and business confidence are strong in Nebraska, according to the latest monthly surveys from the Bureau of Business Research at the University of Nebraska–Lincoln.
Responses to the January Survey of Nebraska Households indicate that consumer confidence rose to 104 in January, above the neutral level of 100 and the December reading of 99.1.
Nebraska business confidence stood at 107.4, based on responses to the January Survey of Nebraska Business. This is well above the neutral value of 100 and down only slightly from a reading of 109.9 in December.
“Nebraska businesses and consumers began 2019 with a sense of optimism about the state’s economy,” said Eric Thompson, an economist and bureau director. “Nebraska households also resolved to improve their financial situation.”
A higher-than-usual 26 percent of respondents said that their top financial issue was either paying down debt or saving for the future. At the same time, businesses were resolute to face the competition, with an elevated 15 percent of respondents indicating that their top business challenge was competition from other businesses or a need to improve business practices.
The surveys are sent each month to 500 randomly selected Nebraska businesses and households. During January, 146 businesses responded to the Survey of Nebraska Business, for a response rate of 29 percent. There were 129 responses to the Survey of Nebraska Households, for a response rate of 26 percent.