State of the State: Citizens Weigh In

NH residents remain optimistic about business conditions in the state and are somewhat optimistic about the national economy, according to the latest Report on Consumer Confidence from the Business and Industry Association (BIA).The survey was conducted by the UNH Survey Center. 

“Results of the BIA Consumer Confidence Report are telling,” says Jim Roche, president of the BIA. “Most NH families anticipate stability in their household financial situations.”

A plurality of Granite Staters say their household financial condition did not change over the past year and a majority don’t expect their household financial condition to change during the next year. Democrats are consistently more optimistic about the state and national economy than Republicans and Independents, and younger residents are more likely to be optimistic about their household’s financial condition over the past year and over the next year.

“Although there is a slight downtick in the number of those who expect to see improvements, it’s encouraging that a plurality of respondents believe employment and business conditions locally and nationally are going in the right direction,” adds Roche.

N.H. Business Conditions
When asked how NH businesses will do over the next year, nearly half of Granite Staters (46 percent) think state businesses will enjoy good times financially. Only 23 percent think they will experience bad times, and 30 percent anticipate mixed conditions.

The percentage predicting good times financially has decreased 9 percentage points since last year.

U.S. Business Conditions
In NH, 41 percent of adults think that business in the country as a whole are in for good times over the next 12 months, 33 percent think businesses will have bad times and 26 percent think conditions will be mixed. 

This measure is unchanged since October. Positive expectations of the U.S. economy have now been higher than negative expectations for over a year.

NH residents are becoming less pessimistic about the long-term prospects for the U.S economy. Currently 38 percent of NH residents believe that the U.S. economy will enjoy continuous good times over the next five years, 28 percent expect periods of widespread unemployment and depression, and 34% see a mix of good and bad conditions.

This marks the second straight quarter that more Granite Staters project continuous good times over the next five years than widespread unemployment and depression.

Personal Financial Conditions
Most NH adults think they are financially better off or about the same as they were a year ago with 33 percent saying they are better off now than they were a year ago, 28 percent saying they are worse off, and 40 percent saying things are about the same.

Looking forward, a majority of Granite Staters think their households will be in about the same financial condition next year as they are today. Currently, 27 percent think their family will be better off financially a year from now, only 10 percent think they will be worse off and 64 percent think their families will be about the same.