Alaskans’ Economic Confidence Down
Graph courtesy of Alaska Department of Commerce, Community & Economic Development
May 11, 2017 ANCHORAGE – Alaskans’ economic confidence is mixed, according to the Alaska Confidence Index (ACI). The ACI report released by the Division of Economic Development shows that the overall index fell to 49.2 in the first quarter of 2017, a drop of 2.5 points from the fourth quarter of 2016. The decline was led by a sharp drop in Alaskans’ confidence in their local economies. Confidence in the current and future state economy was also down. However, respondents’ assessments of their personal financial situations remained positive.
“Finding new ways to expand and diversify the state economy is crucial for future stability,” said Britteny Cioni- Haywood, director of the Division of Economic Development. “There is abundant economic opportunity to be found in Alaska’s natural resources, human capital, and emerging industries.”
The ACI is a measure of Alaskans’ confidence in the health of the local economy, their personal financial situation, and their expectations for the future. Northern Economics, Inc. generates the ACI using data collected by the
Alaska Survey, a random quarterly sample of at least 800 Alaska households. The ACI comprises six components:
1) State Economy Confidence; 2) Local Economy Confidence; 3) Personal Financial Confidence; 4) Expectations for the Future – State; 5) Expectations for the Future – Local; and 6) Expectations for the Future – Personal. Each component is expressed using a value of 0 to 100. Values above 50 represent relative confidence in the economy, while values below 50 indicate lack of confidence.
The ACI is released by the Alaska Division of Economic Development and supported by a sponsorship by the Alaska Department of Commerce, Community, and Economic Development. This statewide information is released in coordination with the Anchorage Economic Development Corporation’s data that specifically reflects Anchorage’s household confidence.
Housed within Alaska State Department of Commerce, Community and Economic Development, the Division of Economic Development supports the growth and diversification of Alaska’s economy through policy, promotion, financing, and business assistance. For additional information about the division, please visit commerce.alaska.gov/web/DED. To learn more about DCCED and its other agencies, please visit commerce.alaska.gov.