Consumer and business confidence fell in Nebraska during February, according to the latest monthly surveys from the Bureau of Business Research at the University of Nebraska-Lincoln.
Both measures had been near record levels in January, and therefore, remained positive despite the February decline.
Nebraska’s business confidence index fell to 107.4 in February from an elevated value of 112.2 in January, according to responses to the monthly Survey of Nebraska Business. Both values are well above the neutral level of 100.0.
“Nebraska business confidence remained strong during February,” said Eric Thompson, an economist who serves as bureau director. “However, businesses still faced several concerns. Many businesses struggled with finding enough qualified workers and with on-line competition.”
Nebraska’s consumer confidence index, which is based on the monthly Survey of Nebraska Households, fell more, to a value of 101.6 in February from 115.2 in January. Both values are above the neutral level of 100.0, indicating that consumer confidence is positive.
“Consumer confidence continues to be more volatile than business confidence” said Thompson. “Consumer confidences rises and falls as consumers react to developments in the job market, the cost of living and the stock market.”
The surveys are sent each month to 500 randomly selected Nebraska businesses and households. During February, 143 businesses responded to the Survey of Nebraska Business, for a response rate of 29 percent. There were 132 responses to the Survey of Nebraska Households, for a response rate of 26 percent.