Missourians push economic sentiment index to new high

Missourians’ confidence in the economy has grown to a new state high, according to Arvest Bank’s fall Consumer Sentiment Survey released today.

Missouri’s consumer sentiment index increased to 88.3, up from 83.9 in March, according to a news release.

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 over 1,200 random phone and online surveys performed by the University of Oklahoma’s public opinion learning laboratory. The study examines the outlook of residents in Missouri, Oklahoma and Arkansas, and is conducted twice a year.  The survey asks respondents to evaluate their current and future finances, business conditions, major household purchase plans, consumer debt, savings and demographics.

The average for the three-state region came to 85.6, up from 83.4 in the spring. Arkansas climbed to 86.7 from 84.9, and Oklahoma improved to 82.1 from 81.3. However, the national consumer sentiment index moved down to 89.8 this fall from 90 in the spring, according to the release.

“Recent trends during the past few months have made future employment and income growth look less promising. But overall, people’s confidence in the economy has improved greatly,” said Missouri State University Bureau of Economic Research Director David Mitchell, who was retained by Arvest to analyze the survey results, in the release. “We’ll have to see if recent slides in employment and sideways movement in the unemployment rate begin to impact household’s long-term perceptions.”

By income level, Missourians’ economic confidence in the fall survey was a mixed bag.

The index for Show-Me State families that make less than $75,000 in household income dropped to 81.5 from 85.8 in the spring. The index for those making over $75,000 increased to 97.3 from 86.5. Missouri’s income-level index mirrored trends on the regional level, according to the release.