InformCT: Residents Report Increased Financial Confidence

businesman working at the beach

Nearly 80 percent of Connecticut residents plan to vacation outside of state in the next six months, according to the InformCT Consumer Confidence Survey.

The study reports that this is the highest percentage of respondents planning to do so since the survey began in Q1 2015, which is 14 percent higher than the survey one year ago. The survey suggests that the results indicate residents are increasingly optimistic about their personal financial situations. Those very unlikely to take a vacation outside the state reached an all-time low at 14 percent this quarter. The responses fall in line with the 4 percent increase over last quarter in respondents’ feeling that they are much better off from a personal financial standpoint than they were six months ago. Nine percent of respondents reported feeling much better off, also tied for the survey’s all-time high with Q2 2016.

The survey is released quarterly by InformCT, a public-private partnership that provides independent, non-partisan research, analysis and public outreach to help create fact-based dialogue and action in Connecticut. Administered by researchers from the Connecticut Data Collaborative, Connecticut Economic Resource Center Inc. and Smith & Co., the analysis is based on the responses of residents across Connecticut and addresses economic issues such as overall confidence, attitudes toward the economy, personal finance, leisure spending, consumer purchases, housing prices, government programs and current investments. This quarter’s survey of 505 state residents has a margin of error of 4 percent.

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InformCT: Residents Report Increased Financial Confidence

by The Commercial Record time to read: 1 min