Survey says Anchorage remains optimistic
Consumer confidence in the Anchorage economy rebounded slightly in the first quarter of 2015 according to the latest AEDC Anchorage Consumer Optimism Index (ANCi). The overall index increased to 58.3 from the fourth quarter 2014 score of 58.2. The six-month index average dropped 2.6 points to 58.2.
Sponsored by KeyBank and produced by Northern Economics, Inc., on behalf of the Anchorage Economic Development Corp., the ANCi measures the confidence of Anchorage households in the health of the local economy, their personal financial situation and expectations for the future. Data for the report is collected from a random sample of 350 households in the Municipality of Anchorage. Any value above 50 reflects a generally optimistic population and values closer to 100 indicate even stronger levels of confidence.
The ANCi survey shows that those residents responding have some concerns regarding the future of the Anchorage economy given the drop in oil prices. At the same time, many are benefitting personally from the low inflation, low interest rates and strong employment levels,” said KeyBank Alaska Market President Brian Nerland. “ At KeyBank, we also see some industries that are benefitting from lower fuel prices, in particular tourism, leisure & hospitality and transportation industries.”
Out of the three components that comprise the total score, Anchorage households exhibited the most confidence when asked about their personal financial situation. Personal financial confidence is the only of the three indicators to increase in the first quarter, rising 2.6 points to a strong 67.1. Confidence in the local economy fell slightly to 62.1, while future expectations fell to its lowest level since 2011 with a 52-point score.
Download the full report (PDF file) sponsored by KeyBank and Northern Economics here: 2015 Q1 AEDC Anchorage Consumer Optimism Index