Connecticut Consumers Show Growing Confidence in State’s Economy and Business Conditions; Upbeat Attitudes Seen in Prospects for Next 6 Months

Friday, September 14, 2018

Residents Still Have Concerns, Ranging from Healthcare Costs to Job Prospects

Connecticut residents are increasingly upbeat about the state’s economy, expressing more optimism about business conditions and the prospects for an improving economy than has been seen in years.

Nearly 8 in 10 residents (77%) say overall business conditions in Connecticut are better off, or the same, compared with six months ago. That’s the highest percentage since 2016, according to the latest quarterly InformCT Connecticut Consumer Confidence Survey. The percentage who say conditions are better has increased for three consecutive quarters and is the highest since the first quarter of 2016.

The survey also found that 76 percent of consumers expect business conditions will be better, or the same, six months from now. That is a slight one percentage point increase from last quarter, but a 9 percentage point increase from a year ago. This also marks the fourth consecutive quarter that the percentage who predict worsening business conditions has diminished, now dipping to less than one in four (24%) for the first time since 2016.

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