Entrepreneurs feel good about Alabama’s future, according to a new analysis from the Alabama Business Confidence Index survey, or ABCI.
The survey measures data received from the state’s industry leaders regarding their confidence level for how business will progress in the future. A score of 50 is the median level of confidence, with everything above 50 considered confidence in business growth in the future while anything below 50 represents beliefs that business growth will get worse. For the third consecutive quarter, Alabama posted a score over 60.
Susannah Robichaux believes this shows a great outlook for businesses throughout the state. Robichaux is a socioeconomic analyst for the Center for Business and Economic Research at UA’s Culverhouse College of Commerce.
“From Q1 2017 to the current quarter, the ABCI has been at levels not seen since 2006,” Robichaux said. “Three consecutive quarters of business confidence growth suggests a very positive outlook on the business environment throughout the state.”
The third quarter’s score of 61.6 is actually 3.6 points down from the previous quarter’s score of 65.2, which was a 10-year high for the state. The current score is 12 points higher than the ten-year national average.
The manufacturing industry posted the highest score with a score of 68.1. Huntsville and Montgomery posted the highest confidence in business out of the 4 metro areas in Alabama with 62.
