Inaugural Report of the Arvest Consumer Sentiment Survey
States surveyed were Arkansas, Missouri and Oklahoma
FAYETTEVILLE, Ark. (July 17, 2014) – The inaugural report of the Arvest Consumer Sentiment Survey was released today. The report indicates varying levels of confidence across Arkansas, Missouri and Oklahoma. The sentiment of Arkansas consumers regarding their views on the economy is lower than that of consumers in the neighboring states of Oklahoma and Missouri. All three trailed the national consumer sentiment index for June as reported by Thomson Reuters and the University of Michigan.
The Arvest Consumer Sentiment Survey is conducted by the Center for Business and Economic Research (CBER) in the Sam M. Walton College of Business at the University of Arkansas. The University of Oklahoma’s Public Opinion Learning Laboratory conducted the 1,200 phone surveys.
The consumer sentiment index for Arkansas was 67.4, while Missouri was 68.6 and Oklahoma 76.4. The national index for June is 82.5.
The data was tabulated by the Center for Business and Economic Research (CBER) at the University of Arkansas at Fayetteville and evaluated on the individual state level by CBER director Kathy Deck; David Mitchell, director of the Bureau of Economic Research at Missouri State University; and Russell Evans, director of the Steven C. Agee Economic Research & Policy Institute at The Meinders School of Business, Oklahoma City University.
Jason Kincy, marketing director for Arvest Bank said, "When Arvest decided to sponsor this survey, we felt it would be beneficial for our communities and customers to have a reading of how consumers are feeling about the economy in the states where we operate. These first results give us better, more localized, information in that regard than has been available in the past. What is most important is knowing where people in Arkansas, Missouri and Oklahoma stand in their views – especially because consumers drive the majority of economic activity. Plus, with future results, we will be able to see if sentiment here is trending up or down with sentiment nationally."
The Arvest Consumer Sentiment Survey will be conducted twice a year, with the next survey expected to be completed in late November. With each study, the index score will be released first, followed by additional information regarding specifics of consumer activities and plans.
Information about the survey, copies of this release, summary documents and print-ready logos can be found at: www.arvest.com/consumersentiment.
About Our Research Partners
The Center for Business and Economic Research, Sam M. Walton School of Business at the University of Arkansas at Fayetteville (CBER) provides excellence in applied economic and business research to federal, state and local government, as well as to businesses currently operating or those that desire to operate in the state of Arkansas. The center further works to improve the economic opportunities of all Arkansans by conducting policy research in the public interest.
The University of Oklahoma Public Opinion Learning Laboratory (POLL) serves two functions: to provide a learning environment for the teaching of survey design, public opinion research and data analysis for the purpose of developing student capabilities to conduct academic and professional research and analysis; and to conduct research on public opinion, in order to foster knowledge about public affairs and to assist in the conduct of research on public policy of import to state and local governments, media organizations, other public and private entities, and the general public.
The Meinders School of Business (MSB) at Oklahoma City University, which includes the Steven C. Agee Economic Research & Policy Institute, offers a full range of undergraduate, graduate and professional development programs. MSB prepares graduate and undergraduate students to be socially responsible leaders in a global economy through teaching excellence and faculty scholarship in business practice and the disciplines. Faculty and students engage with the business community, local government and regulatory agencies as part of the teaching-learning process.
The Bureau of Economic Research, housed within the Economics Department at Missouri State University, serves as a clearinghouse for data and publications on economic conditions within the region, state and nation. The staff has a wide variety of experience and is able to provide consulting services, produce detailed GIS maps, economic and industry forecasts and other relevant reports.
About Arvest Bank
Arvest Bank operates more than 260 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a network of 16 locally managed banks, each with its own board and management team. These banks serve customers in more than 120 communities with 12-hour weekday banking at most locations. Arvest also provides a wide range of banking services including loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing. Arvest is an equal housing lender and member FDIC.
Arvest Asset Management offers wealth management, trust services, and insurance products. Investment products and services are provided by Arvest Investments, Inc., doing business as Arvest Asset Management, member FINRA/SIPC, an SEC registered investment adviser and a subsidiary of Arvest Bank. Trust services provided by Arvest Bank. Insurance products are made available through Arvest Insurance, Inc., which is registered as an insurance agency. Insurance products are marketed through Arvest Insurance, Inc., but are underwritten by insurance companies. Securities and Insurance Products are: Not FDIC Insured, May Lose Value, No Bank Guarantee