New Hampshire residents are far more pessimistic about their own economic future than they were just after the 2024 presidential election, according to a new consumer confidence survey done for the Business and Industry Association (BIA).
N.H. residents more pessimistic about economic future than after 2024 election
Business and Industry Association President/CEO Michael Skelton said its consumer confidence survey revealed most residents feared high prices would continue into 2026.
More than three-fourths of respondents said prices for everyday items they bought went up over the last year, and a majority believed this trend would continue into 2026.
The Nov. 13-17 poll by the University of New Hampshire Survey Center found only 28% expect their personal finances to be better a year from now compared to 46% who were optimistic about the future back in November 2024.
Another 35% currently said they expect to be worse off in a year while 36% said their finances will be about the same.
“Granite Staters are feeling the effects of higher prices and economic uncertainty, and this poll reflects that reality. While families are tightening their budgets and looking ahead with caution, it’s encouraging that most still feel confident about managing holiday expenses,” said Michael Skelton, BIA’s president and CEO.
“These results underscore the need for policymakers and the business community to stay focused on solutions that address affordability, strengthen consumer confidence, and support sustainable growth across New Hampshire.”
Regarding holiday spending and despite the affordability crisis, 54% said they plan to spend about the same amount on gifts.
Back during times of higher inflation nationally, 53% in 2022 and 49% in 2020 said in those surveys they would spend less during the holiday season.
Personal budgets and holiday shopping has remained stable with 25% saying they didn’t have enough to afford all the gifts they wanted to buy. That’s nearly identical to 24% who had that view a year ago.
Views don’t vary by income level
Survey Center Director Andrew Smith said views regarding recent finances don’t vary by income level.
“Twenty four percent of those with a household income between $75,000 and $149,999 say they are better off than a year ago compared to 23% with a household income of $150,000 or more and 21% of those with a household income below $75,000,” Smith said.
Optimism about the future does vary by political party with 56% of Republicans believing they’ll be better off in a year while most Democrats (65%) and independents (52%) expect things to be worse for them.
Likewise, while 39% of Republicans said they were better off financially than a year ago, only 5% of Democrats and 6% of independents felt that way.
When asked what would cause prices to rise in the next year, 40% blamed the tariffs while 24% said it was due to poor economic stewardship. For those who expected prices to fall next year, 31% said it would be due to good economic management, 25% said it would be lower energy prices and 13% expected generally a better economy.
Residents were slightly more optimistic about the future of the state economy than they were about the national outlook, with 26% expecting New Hampshire businesses to enjoy good times in the coming year, 25% predicting it would get worse and the other 49% with a mixed view of the state economy.
Nationally, 56% expect the economy to be worse in the next year while 28% expect it to get better; a similar survey in August found 34% believed the national economy would improve.
This survey of 1,402 residents had a margin of error of plus or minus 2.6%.
klandrigan@unionleader.com
