Anchorage consumer optimism rises to a record high
Confidence in the Anchorage economy reached a record high in the first quarter of 2013 according to the latest Anchorage Consumer Optimism Index (ANCi) report released by the Anchorage Economic Development Corporation.
Sponsored by KeyBank and produced by Northern Economics, Inc. on behalf of AEDC, the ANCi measures the confidence of consumers using data from a random sample of 350 households in the Municipality of Anchorage. Comprised of three individual components — Local Economy Confidence, Personal Financial Confidence and Expectations for the Future — the overall reading rose from 57 in the fourth quarter of 2012 to 59.9 in the first quarter of 2013. The more stable six-month average rose 0.6 points to 57.9, a reading that is the third highest in the history of the index.
“Low rates of employment mean that Anchorage residents have a high level of participation in the local economy,” said Bill Popp, president and CEO of AEDC. “The ANCi continues to demonstrate explicit confidence in that economy, as well as a positive outlook for the future.”
The Local Economy Confidence component rose to a record 61.7, the highest reading ever seen, and a full 1.2 points above the average 2012 level. Personal Financial Confidence, the strongest component of the ANCi, rose nearly three points from the fourth quarter of 2012. The Expectations of the Future reading set another record for the history of the index, most likely due to some resolution of federal funding and fiscal cliff issues, and positive news about Cook Inlet gas supplies and North Slope oil investment.
AEDC is a private, nonprofit membership organization developed in 1987 to encourage growth and to diversify the Anchorage economy. The organization has more than 235 investors, which represent all industries in Anchorage and Alaska. For more information visitwww.AEDCweb.com