Consumer confidence bounced back in Nebraska during October while business confidence moderated, according to the latest monthly surveys from the Bureau of Business Research at the University of Nebraska-Lincoln.
October responses to the Survey of Nebraska Households indicate that consumer confidence rose to 104.2 during the month, above the neutral level of 100.0 and the September value of 97.7.
Nebraska business confidence stood at 106.9 in October, based on responses to the monthly Survey of Nebraska Business. This is above the neutral value of 100 but down from a reading of 110.9 in September.
“Consumer and business confidence were solid in Nebraska during October,” said Eric Thompson, an economist who serves as Bureau director.
“There were, however, pockets of concern about taxes and the strength of the economy,” said Thompson. Thirteen percent of responding households and 12 percent of responding businesses indicated that taxes were their top issue of concern. Concerns about the economy also were elevated compared to recent months. Ten percent of households indicated that their top financial issue was concern about their job or business, while 8 percent mentioned financial market performance. Fourteen percent of households mentioned concern about their income and wage level.
The surveys are sent each month to 500 randomly selected Nebraska businesses and households. During October, 120 businesses responded to the Survey of Nebraska Business, for a response rate of 24 percent. There were 111 responses to the Survey of Nebraska Households, for a response rate of 22 percent.