Consumer confidence seems to be gaining steam in Nebraska, matching the confidence among Nebraska businesses.
University of Nebraska Lincoln Bureau of Business Research Director Eric Thompson says the bureau’s latest monthly survey shows consumer confidence is strong in Nebraska, while business confidence remains very strong.
“We’ve had a continuing economic expansion for a number of years,” Thompson tells Nebraska Radio Network affiliate KLIN. “It does take a while before people start to feel the improving economy in their own lives and we may be reaching the point now in our recovery where it’s not just businesses feeling more confident, but also households as well.”
Thompson says this is the first time researchers have found growing consumer confidence since they began taking the survey in 2015.
“And what that says is that more households see their financial situation improving in the next six months than see it deteriorating,” according to Thompson. “Also that more households have their financial situation improving over the last six months.”
Thompson cautions time will tell whether the results of the March survey signal an emerging trend. Thompson says it appears consumer confidence is rising with the improvement in the state job market.
Consumers still have concerns, according to Thompson, mainly about the rising cost of living, especially with health care and taxes.
Jane Monnich, KLIN, contributed to this story.