Arkansas Less Optimistic Than Oklahoma, Missouri in Arvest Consumer Survey

by Lee Hogan  on Tuesday, Aug. 5, 2014 10:29 am  

The second phase of Arvest Bank's consumer sentiment survey found Arkansans have a less favorable outlook on current conditions and expectations than respondents in Oklahoma in Missouri.

The survey, which is compiled by the Center for Business and Economic Research in the Sam M. Walton College of Business at the University of Arkansas, shows Arkansas' current conditions index at 74.7, which trails Missouri (77.6) and Oklahoma (82.2). The regional index was 78.7.

In the consumer expectations index, Arkansas' 62.7 rating was, again, lower than Missouri (62.9) and Oklahoma (72.6). The regional index was 66.7.

Still, the survey found the majority of Arkansans had a slightly more positive outlook on their short-term financial situation than the overall region. The report shows 52 percent of Arkansans expect their personal financial situation to remain the same over the next 12 months, and 28 percent expect it to improve.

Across the three-state region, 51 percent of respondents expected their financial situation to remain the same and 27 percent expected it to improve.

Looking at future business conditions, Arkansans were more pessimistic than their regional counterparts with 22 percent expecting conditions to be favorable in the next 12 months, while 30 percent did in Missouri and 32 percent did in Oklahoma.

Arkansans were also more pessimistic than Missouri and Oklahoma when asked about unemployment over the next five years, with 61 percent in Arkansas expecting widespread unemployment compared to 57 percent in Missouri and 53 percent in Oklahoma.

Kathy Deck, director of the Center for Business and Economic Research in the Sam M. Walton College of Business and lead economist on the survey, said the initial results show Arkansans have deep worries about the trajectory of the overall economy.

 

 

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