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July surveys show improving consumer confidence
Consumer confidence improved in Nebraska during July while the outlook for employment remained positive, according to the latest monthly surveys conducted by the Bureau of Business Research at the University of Nebraska-Lincoln.
Nebraska’s Consumer Confidence Index rose to 97.5 in July, from a reading of 92.4 in June. The July reading lies close to 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 July value indicates that consumer confidence is improving in Nebraska,” Thompson said. “It will be critical to monitor whether consumer confidence continues to improve over the next few months, and becomes a source of strength for the Nebraska economy.”
Employment expectations remained positive during July, with 14 percent of businesses expecting to increase employment over the next six months, compared to 8 percent expecting to reduce it. The outlook for sales was mixed, with 23 percent of businesses expecting sales to rise and 24 percent expecting sales to fall.
“Business survey results indicate solid job growth in Nebraska for the rest of 2016,” said bureau director Eric Thompson, a UNL economist.
The surveys are sent each month to 500 randomly selected Nebraska businesses and households. In July, 133 businesses responded to the Survey of Nebraska Business, for a response rate of 27 percent. There were 125 respondents to the Survey of Nebraska Households, for a response rate of 25 percent.
For more information, the full survey report is available here.