Arvest Newsroom

Arvest Consumer Sentiment Survey Spending and Savings Results
December 15, 2015

Regional

While more consumers across the region have plans to make major purchases now than six months ago, their actual purchasing behavior since the March survey has remained largely unchanged. The percentage of respondents to the Fall Arvest Consumer Sentiment Survey planning to make a major purchase in the next six months increased to 28 percent, higher than the 25 percent reported in March. The percentage of regional respondents who made a major household purchase, such as furniture, a television or refrigerator, in the past six months is 38 percent, unchanged from March. Of the respondents to the September survey, 39 percent had mortgage debt, 40 percent had credit card debt, 32 percent had auto loans, 14 percent had outstanding student loans, and 8 percent had home equity loans.

Arkansas

The percentage of Arkansas survey respondents who said they made a major household purchase in the past six months was down to 37 percent in September from the 39 percent reported in March. Only 24 percent said they planned to make a major household purchase in the next six months, unchanged from March’s results. In Arkansas, 32 percent of respondents had mortgage debt, 40 percent had credit card debt, 35 percent had auto loans, 26 percent had outstanding student loans, and 7 percent had home equity loans. Four percent of respondents intend to acquire a mortgage in the next six months, 3 percent had plans to acquire an auto loan and 6 percent to acquire student debt, all of which are increases over the March survey results.

Missouri (including Greater Kansas City)

The percentage of Missouri respondents who said they made a major household purchase in the past six months was down to 37 percent from the 39 percent reported in March. Respondents who plan to buy a major item in the next six months is 27 percent, up from the 25 percent reported in March. In Missouri, 45 percent of the respondents have a mortgage, 41 percent had credit card debt, 31 percent had auto loans, 15 percent had outstanding student loans and 11 percent had home equity loans. One percent intend to acquire a mortgage, while 5 percent had plans to acquire an auto loan, 2 percent plan to accumulate credit card debt and 4 percent to acquire student debt, all down or equal to the percentages reported in March.

Oklahoma

The percentage of Oklahoma respondents who said they were planning to increase their rate of savings in the next six months increased significantly from March, going from 22 percent to 29 percent. At the same time, those who made a major household purchase in the past six months was 39 percent, up from the 35 percent reported in March’s survey. Respondents who plan to buy a major item in the next six months was 32 percent, up from the 28 percent reported in March. In Oklahoma, 34 percent of the respondents reported they had mortgage debt, 39 percent had credit card debt, 29 percent had auto loans, 14 percent had outstanding student loans and 7 percent had home equity loans. Four percent intend to acquire a mortgage in the next six months, 3 percent planned on auto loans, 2 percent planned on additional credit card debt and 3 percent planned to acquire student debt, all down or equal to the percentages reported in March.

Recent Major Household Purchases

Made major purchase
in last 6 month
Did not make purchase
in last 6 months
Responses
Regional38%62%1,200
Arkansas37%63%388
Missouri37%63%411
Oklahoma39%61%390

Plan to Make a Major Household Purchase

Plan to buy
in next 6 months
Do not plan to buy
in next 6 months
Responses
Regional28%72%1,179
Arkansas24%76%386
Missouri27%73%403
Oklahoma32%68%390

Major Household Purchase Plans

Waiting to purchaseNo plans to purchaseResponses
Regional17%83%894
Arkansas13%87%303
Missouri21%79%300
Oklahoma15%85%284

Percentage of Respondents with Consumer Debt

MortgageHome
Equity
Auto
Loan
Credit
Card
Student
Loans
None
Regional39%8%32%40%14%27%
Arkansas32%7%35%40%26%24%
Missouri45%11%31%41%15%28%
Oklahoma34%7%29%39%14%24%

Percentage of Respondents who Anticipate Acquiring Credit

MortgageHome
Equity
Auto
Loan
Credit
Card
Student
Loans
Regional2%1%4%2%5%
Arkansas4%NA3%NA6%
Missouri1%1%5%2%4%
Oklahoma4%0%3%2%3%

Percentage of Respondents who Anticipate Difficulty Acquiring Credit

YesNo plans to acquire creditNo
Regional5%82%13%
Arkansas5%83%12%
Missouri4%79%17%
Oklahoma5%83%12%

Current Household Savings Rate

OverallResponsesFamily Incomes
Under $75,000
Family Incomes
Over $75,000
Families
With
Children
Families
Without
Children
Regional13.6%98410.0%18.6%12.8%13.9%
Arkansas13.9%31711.3%18.6%13.5%14.1%
Missouri13.1%3409.0%17.9%12.4%13.5%
Oklahoma13.9%32017.2%19.3%12.7%14.3%

Planned Household Savings Rate

Increase
Savings Rate
Keep Current
Savings Rate
Decrease
Savings Rate
Responses
Regional20%71%8%1,016
Arkansas14%77%9%334
Missouri15%75%10%346
Oklahoma29%64%7%320

NA – A smaller sample size for the category prevented economists from reaching statistical validity with this data point.

Note – Percentages may not equal 100 because of rounding to nearest whole number within the report.

Data released as part of the Arvest Consumer Sentiment Survey, summary and news releases is free for broadcast, publication or use in presentations. Please cite “Arvest Consumer Sentiment Survey” as the source each time information is referenced.