Arvest study: Mo. consumer sentiment higher than Ark., lower than Okla.

A study commissioned by Arvest Bank found consumer sentiment about the economy was higher in Missouri than in Arkansas, but lower than in neighboring Oklahoma.

The inaugural Arvest Consumer Sentiment Study was conducted by the Center for Business and Economic Research at the University of Arkansas Sam W. Walton College of Business. It measured responses to 1,200 phone surveys.

In Missouri, the consumer sentiment index was 68.6, beating Arkansas' 67.4, but trailing Oklahoma at 76.4. All three states falter in comparison to the national June index of 82.5 as reported by Thomson Reuters and the University of Michigan, according to a news release.

"Consumers in Missouri are not necessarily all that confident about future economic conditions as reflected in recent national economic data that shows an economic recovery that is continuing to move at an uneven pace," said David Mitchell, director of the Bureau of Economic Research at Missouri State University, in the release.

The Arvest Consumer Sentiment Study is slated to be conducted twice a year, with the next survey to be completed in late November, according to the release.

"Arvest decided to sponsor this survey because we thought it would be beneficial to have an accurate understanding of how consumers feel about the economy in the states where we operate," Arvest Springfield President Brad Crain said in the release. "What we value most is the chance to gain insights about what Missouri residents think about their personal economy - especially since consumers drive the majority of economic activity."

The survey divided groups by categories including income, age, education and employment status.

For Missouri families bringing home less than $75,000, consumer sentiment scored 59.2, while those making over $75,000 scored 79.8.

By age, 18-24 years old scored 63.5, ages 25-44 scored 78.3, 45-64 scored 68.5, and 65 and over scored 60.3, according to the release.

Those with a high school degree or less scored 58.2, bachelor's degree holders scored 72.8 and those with graduate degrees scored 84.

The consumer sentiment index is measured against a baseline index value of 100 set in December 1964, according to Thomson Reuters and the University of Michigan.[[In-content Ad]]