Anchorage Consumer optimism in 2013 ends on high note
Local consumer optimism rose sharply to 60.7 in the fourth quarter of 2013, according to the latest Anchorage Consumer Optimism Index (ANCi) report issued by the Anchorage Economic Development Corp. The more stable six-month moving average of the index, while down 0.4 points, is still the third-highest reading to date. The Personal Financial Confidence component of the index jumped up six points from the third quarter of 2013 to a reading of 67.1, nearly reaching an all-time high.
Sponsored by KeyBank and produced by Northern Economics, Inc. on behalf of AEDC, the ANCi measures the confidence of local consumers using data from a random sample of 350 households in the Municipality of Anchorage. Comprised of three individual components — Local Economy Confidence, Personal Financial Confidence and Expectations for the Future — the overall reading rose from 57.1 in the third quarter to 60.7 in the fourth quarter.
“The rise in Anchorage consumer optimism coincides with a rebound in U.S. consumer optimism and an improved economic outlook,” said AEDC President and CEO Bill Popp.
“Anchorage residents are feeling very optimistic about their personal financial well-being,” said Brian Nerland, AEDC board member and market president of KeyBank in Alaska. “This is due, in part, to the resolution of the federal government shutdown and a strong stock market.”
The Local Economy Confidence component increased by 2.6 points to a reading of 62.9, exceeding the 62.4 average seen for the first three quarters of 2013. ANCi’s Expectations of the Future component measured 56.4, placing second only to the all-time high of 56.8 from the second quarter of 2013.
AEDC is a private, nonprofit membership organization developed in 1987 to encourage growth and to diversify the Anchorage economy. The organization has more than 250 investors, which represent all industries in Anchorage and Alaska. For more information visit www.AEDCweb.com.