November 14, 2017

Survey: CT business climate not likely to improve soon

HBJ Photo | File
HBJ Photo | File

Connecticut residents are pessimistic about the state's current business climate and its potential to improve, according to the latest InformCT Consumer Confidence Survey.

In the third quarter, 51 percent of the 505 residents surveyed said they do not believe the Connecticut economy is improving, compared with 24 percent that believe it is.

For the fourth consecutive quarter, the percentage of Connecticut residents who believe that overall business conditions in the state are worse now compared to six months ago has increased to 37 percent, up from 25 percent a year ago, the survey found.

Meantime more than half, 58 percent, expect the employment situation in Connecticut to stay the same over the next six months.

Looking ahead, 49 percent of state residents say they believe business conditions will remain the same over the next six months, while only 23 percent believe conditions will improve, the lowest percentage since the quarterly surveys began. In fact, 28 percent of residents surveyed in the third quarter say business conditions will worsen.

InformCT is a public-private partnership that provides independent research, analysis and public outreach. Researchers from the Connecticut Economic Resource Center Inc. and Smith & Company administered the survey.

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