ANCHORAGE, Alaska (KTUU) – A recent economic survey shows Anchorage residents are concerned about their economic futures.
Anchorage residents doing early Christmas shopping at Bosco’s Comics on Nov. 27. (KTUU)
The Anchorage Consumer Optimism Index measures how locals perceive the city’s economic situation. It looks at how confident consumers are in their personal finances, and the current and future states of Anchorage’s economy.
Confidence is measured on a scale from one to 100. For Q3 of 2019, overall confidence came in at 52.7, down 6.6 points from 2018. This mirrors a national trend of decreasing confidence between July and Sept. 2019, according to the Conference Board’s Consumer Confidence Index.
National analysts say the decline is driven by a softening in consumers’ assessments of business and employment conditions. Anchorage consumers, according to the ANCi, were confident in the city’s short-term economic conditions. However, in their responses to the ANCi survey questions, consumers attributed long-term economic concerns in part to BP’s exit from the Alaska oil sector, and a lack of long-term solutions to the state’s fiscal crisis.
Despite the ANCi results, Anchorage business Bosco’s Comics expects to meet its projected holiday sales, according to store manager Marc Hess.
“I think the advantage of a small, local store is that we can react really quickly to changes in the market,” Hess said. “I think we’re going to buck the trend.”
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