Business and consumer confidence fell in Nebraska during July, according to the latest monthly surveys from the Bureau of Business Research at the University of Nebraska-Lincoln.
Business confidence fell to 106.4 in July from 115.4 in June, according to the results of the monthly Survey of Nebraska Business. Consumer confidence also fell from 103.9 in June to 101.9 in July. Both confidence measures are above the neutral value of 100.0.
“The drop in July business confidence followed a surge in confidence during June,” said Eric Thompson, an economist who serves as bureau director. “The June surge proved to be short-lived and business and consumer confidence in Nebraska are now best described as solid rather than strong.”
The surveys also gathered information about the top issues faced by households and businesses. “Taxes were the most common concern of Nebraska households,” said Thompson. “Businesses reported concerns about labor availability and costs for goods and services. Concerns about business costs were higher in both June and July than earlier in the year.”
The surveys are sent each month to 500 randomly selected Nebraska businesses and households. During July, 133 businesses responded to the Survey of Nebraska Business, for a response rate of 27 percent. There were 122 responses to the Survey of Nebraska Households, for a response rate of 24 percent.