Nebraska consumer and business confidence slipped during May, according to the latest monthly surveys from the Bureau of Business Research at the University of Nebraska-Lincoln.
Nebraska’s consumer confidence index, which is based on the monthly Survey of Nebraska Households, fell to a value of 101.3 in May from 104.3 in April. The May value is just above the neutral level of 100.0.
Business confidence also fell, declining from 104.8 in April to 102.4 in May, according to the results of the monthly Survey of Nebraska Business.
“Falling consumer and business confidence is a concern,” said Eric Thompson, an economist who serves as bureau director. “If confirmed in subsequent months, the downward trend suggests that the Nebraska economy is losing momentum.”
The surveys also gathered information about the top issues faced by households and businesses. “The cost of health care and the level of savings were the most common concerns of Nebraska households,” said Thompson. “Businesses were most concerned about customer demand and work force challanges.”
The surveys are sent each month to 500 randomly selected Nebraska businesses and households. During May, 134 businesses responded to the Survey of Nebraska Business, for a response rate of 27 percent. There were 120 responses to the Survey of Nebraska Households, for a response rate of 24 percent.