Business confidence rose sharply in Nebraska during June, according to the latest monthly surveys from the Bureau of Business Research at the University of Nebraska-Lincoln.
Business confidence rose to 115.4 in June from 102.4 in May, according to the results of the monthly Survey of Nebraska Business. Consumer confidence also rose, but just modestly, from 101.3 in May to 103.9 in June. Both confidence measures are above the neutral value of 100.0.
“The surge in business confidence is a a good sign for economic growth in Nebraska,” said Eric Thompson, an economist who serves as bureau director. “Both business and consumer confidence had fallen in April and May.”
The surveys also gathered information about the top issues faced by households and businesses. “The cost of health care and taxes were the most common concerns of Nebraska households,” said Thompson.
“Businesses reported growing concerns about labor availability and rising costs for good and services. Concerns about cost were related to tariffs and rising oil prices.”
The surveys are sent each month to 500 randomly selected Nebraska businesses and households. During June, 151 businesses responded to the Survey of Nebraska Business, for a response rate of 30 percent. There were 112 responses to the Survey of Nebraska Households, for a response rate of 22 percent.