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February 12, 2021

January Survey: Nebraska Businesses are Confident about 2021

January Survey: Nebraska Businesses are Confident about 2021
Dr. Eric Thompson, director of the BBR, reported business confidence turned positive in Nebraska during January.

Nebraska business confidence was positive in January, according to the latest monthly survey from the Bureau of Business Research at the University of Nebraska–Lincoln.

The Business Confidence Index – Nebraska had a value of 105.9, which is above the neutral level of 100.   

“Business confidence turned positive in Nebraska during January,” said Dr. Eric Thompson, an economist who serves as Bureau director. “What remains to be seen, is whether January reflects a permanent improvement, or simply New Year’s optimism.”

Expectations are the key to business confidence. The recent conditions sub-index, which reflects the change in sales and employment during recent months, was below the neutral level at a value of 92.6. The expectations sub-index, by contrast, was far above neutral, at 119.3.  

“The COVID-19 pandemic continued to be the primary challenge faced by Nebraska businesses,” said Thompson. The COVID-19 pandemic was mentioned by 35% of business respondents as their top business concern. Another 29% of businesses focused on customer demand without specifically mentioning COVID-19, and 15% of businesses listed the quality and availability of labor as their top concern.

The surveys are sent each month to 500 randomly selected Nebraska businesses. During January, 95 businesses responded to the Survey of Nebraska Business, for a response rate of 19%.