Business confidence dropped sharply in Nebraska during June, according to the latest monthly survey from the Bureau of Business Research at the University of Nebraska-Lincoln.
Business confidence was 100.3 in last month, based on responses to the Survey of Nebraska Business. That was just above the neutral value of 100 but was down sharply from 113.2 in May.
“The June drop in business confidence is a concern if it is sustained in future months,†Eric Thompson, an economist who serves as Bureau director, said in a news release. “Absent strong business confidence, Nebraska’s economy is vulnerable to weakness in its key agricultural sector.â€
There was also a modest drop in consumer confidence. Responses to the June Survey of Nebraska Households indicate that consumer confidence fell to 104.4 during the month, above the neutral level of 100 but below the May value of 105.3.
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Eighteen percent of responding households indicate that the general cost of living is their top financial issue while 16 percent choose taxes. Thirty percent of businesses choose customer demand as their top business issue.