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Alaska’s economic confidence is on the rise.
It was higher in the fourth quarter of 2017 than it has been since the third quarter of 2015, according to the state Division of Economic Development, as measured by the Alaska Confidence Index. The index increased to 54. An index of 50 and above, on a scale from 0 to 100, represents confidence.
Alaska’s lowest recorded level was 49 in the first half of 2016 and the first quarter of 2017.
The index measures Alaskans’ confidence in the local economy, their personal financial situations, and their expectations for the future, according to DED. The index uses information collected by the Alaska Survey, which is a quarterly sample of at least 800 Alaska households chosen randomly.
The survey has six components — state economy confidence, local economy confidence, personal financial confidence, expectations for the future at the state level, expectations for the future at the local level and personal expectations for the future.
In the past four years, the highest levels in economic confidence occurred in the second and third quarters of 2014, when the index numbers exceeded 60.
Nothing stays the same forever. What goes up will come down one day, and that which is down has the potential to go up.
It’s happened throughout Alaska’s history.
That a rise is being recorded is encouraging given the state’s budget deficit and the effect the deficit has had on Alaska communities.
Such encouragement can be the beginning of a turnaround of fortunes.