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September 20, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

New poll finds evaporating optimism among Connecticut residents

Connecticut residents are feeling increasingly pessimistic about their financial health and the state’s economic well-being, according to the latest InformCT Consumer Confidence Survey covering the first quarter of this year.

When asked if they are worse off financially than six months ago, 33% percent of respondents said that they were while 26% said they are better off. When InformCT asked the same question at the end of the fourth quarter of 2018, the numbers were even at 31%, while the breakdown was 31%-30% in the first quarter 2018 poll. As for the near future, 37% said they expected they would be in better financial health in six months, a drop from the 47% who held that view a year ago.

When asked if they “feel that the Connecticut economy is improving,” 44% of respondents disagreed, while 25% agreed and 31% were unsure. Among the primary concerns burdening Connecticut residents, 59% cited unaffordable health care and 50% were afraid they would not have enough money to retire comfortably. And when asked about the statement “Connecticut is a good place to live and raise a family,” 47% agreed and 35% did not – which marks the first time in the survey’s four-year history that more than 30% of respondents disagreed with that statement.

On the business front, 52% of residents felt overall business conditions in the state are about the same as six months ago, while 19% felt conditions are better and 28% said they’ve become worse. Looking ahead, 48% expected business conditions to remain the same, 27% said conditions will improve and 27% said conditions will worsen. Regarding employment opportunities, 61% expect the state’s employment situation to remain about the same six months from now, with 21% forecasting an improved situation and 18% bracing for things to get worse.

The online survey of 505 state residents was conducted in late March, with a 4% margin of error.