Home Economy Survey: Most CT residents pessimistic about business conditions

Survey: Most CT residents pessimistic about business conditions

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According to a new survey, Connecticut residents increasingly believe that overall business conditions in the state are worsening.

The InformCT Consumer Confidence Survey, produced each quarter, found that 51 percent of residents do not believe the state’s economy is improving, compared with 24 percent that believe it is.

business conditions connecticut pessimisticIt also found that the percentage of Connecticut residents who believe that overall business conditions in the state are worse now compared to six months ago has increased to 37 percent – the fourth consecutive quarter that such pessimism has risen, and a number that is up from 25 percent a year ago. The percentage who believe that overall business conditions have improved has dropped to 18 percent, tied for the lowest level since the quarterly surveys began.

The percentage of residents who believe that “there are plenty of jobs for anyone who wants to work” has reached the highest level in nearly three years, although a majority continue to believe that there are some jobs, but not enough. Fifty-eight percent said they expect the employment situation in Connecticut to stay the same over the next six months.

InformCT is a public-private partnership that provides independent, nonpartisan research, analysis, and public outreach to help create fact-based dialogue and action in Connecticut. The survey was administered by researchers from the Connecticut Economic Resource Center Inc. and Smith & Co.

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