Surveys: Consumer confidence remains weak during October
Consumer confidence remained weak in Nebraska during October, according to the latest monthly surveys from the Bureau of Business Research at the University of Nebraska-Lincoln.
The monthly Survey of Nebraska Households showed that the state's consumer confidence index stood at 95.1 in October, well below the neutral level of 100.0, indicating that consumer confidence is weak. Fifty-six percent of respondents cited cost concerns – such as the cost of living, health care costs, taxes and other major expenses – as the top financial issue they face.
"Consumer confidence has been weak in Nebraska for the last two months," said Eric Thompson, an economist and bureau director.
By contrast, the monthly Survey of Nebraska Business indicated that the state's business confidence remained strong, at 102.7 in October, which is above the neutral level of 100.0.
"Nebraska businesses remain confident about adding to both sales and employment in the coming months," Thompson said.
The surveys are sent each month to 500 randomly selected Nebraska businesses and households. During October, 151 businesses responded to the Survey of Nebraska Business, for a response rate of 30 percent. There were 115 respondents to the Survey of Nebraska Households, for a response rate of 23 percent.
For more information, the full survey report is available on the Bureau of Business Research website here.