Consumer and business confidence surged in Nebraska during November, 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, surged from 95.1 in October 2017 to 106.2 in November. The November value is well above the neutral level of 100.0, indicating that consumer confidence is strong. Fifty-six percent of respondents cited cost concerns – such as the cost of living, health care costs, taxes and other major expenses – as the top financial issue they face.
“Consumer confidence rose sharply in Nebraska during November, consistent with the rapid increase in U.S. consumer confidence,” said Eric Thompson, an economist who serves as bureau director.
There was a similar rise in Nebraska’s business confident index, which is derived from responses to the monthly Survey of Nebraska Business. The Business Confidence Index-Nebraska rose from 102.7 in October to 114.1 in November. The November value also is well above the neutral level of 100.0.
“Businesses confidence was very strong in November, reflecting both recent growth in sales and employment and plans for further growth over the next 6 months,” Thompson said.
The surveys are sent each month to 500 randomly selected Nebraska businesses and households. During November, 103 businesses responded to the Survey of Nebraska Business, for a response rate of 21 percent. There were 112 respondents to the Survey of Nebraska Households, for a response rate of 22 percent.