May 4, 2017

Survey: CT biz climate in need of boost

Freedigitalphotos.net | Sira Anamwong
Freedigitalphotos.net | Sira Anamwong

Connecticut residents view the business climate here more favorably today than they did six months ago, according to a new quarterly survey, but contentment with the status quo remains low.

Twenty-three percent of residents say business conditions in Connecticut are better than they were six months ago, according to a new quarterly survey by InformCT, a public-private partnership that provides independent analysis of Connecticut trends. That's 5 percentage points higher than it was in the previous quarter.

The consumer confidence survey measured responses from 505 state residents on questions related to the state's economy.

In terms of job outlook, 16 percent of respondents believe there are plenty of jobs in Connecticut for anyone who wants to work -- the largest percentage of people with this sentiment since the survey began in 2015 but still a low number. As many as 23 percent of survey participants believe jobs are very hard to get in Connecticut, the survey found.

In addition, the survey shows 30 percent of participants agreeing that the Connecticut economy is improving, the highest level in over a year.

When reporting on their personal financial situation, survey participants' reactions were mixed, with fewer people thinking their situation would remain steady and more people either optimistic or pessimistic, InformCT said.

However, looking back, the number of people who believe they are much better off from a personal financial standpoint compared to six months ago rose to 29 percent, an increase of 4 percentage points from 25 percent, which is tied for the survey's all-time high, the survey showed.

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