Arvest Bank’s second Consumer Sentiment Study found a rising score in Missouri this fall compared to the first report this summer. The Show-Me State’s index also beat neighboring states Oklahoma and Arkansas.
Conducted by the Center for Business and Economic Research at the University of Arkansas Sam W. Walton College of Business, the study analyzes the results of 1,200 phone surveys performed by the University Oklahoma’s public opinion learning laboratory during September and October.
Missouri’s overall consumer sentiment index rose to 77.4 from 68.6 in the
first survey, according to a news release.
“This increase is driven by a couple of factors, including lower gasoline prices, which make consumers feel a little richer, and by some late 2014 increases in employment growth,” said David Mitchell, director of the Bureau of Economic Research at Missouri State University, in the release. “Unfortunately, these increases in employment growth have not yet translated into significant increases in wage growth.”
In Oklahoma, the index increased to 76.4 from 72.6, and Arkansas rose to 68.1 from 67.4.
The three-state region as a whole climbed to 72.6 from 71.4.
By comparison, the national index was 86.9 in October, which is measured against a baseline index value of 100 from December 1964. The U.S. index increased from 82.5 in June, according to the release.
In Missouri, the largest gains were observed among 18- to 24-year-olds, who increased to 93.9 from 63.5; respondents who rent their homes, 74.8 from 61.6; those older than 65, 70 from 60.3; and those not in the labor force, 69.3 from 59.6.
The Arvest Consumer Sentiment Survey is slated to be conducted twice a year, with the next coming in May. Each is released in three parts, with consumer sentiment followed by personal finance and savings and spending plans.[[In-content Ad]]
