Arvest Consumer Sentiment Survey Spending and Savings Results
June 23, 2015
The number of regional respondents to the March Arvest Consumer Sentiment Survey who made a major household purchase, such as furniture, a television or refrigerator, in the past six months is up two points to 38 percent from the 36 percent reported in October. Conversely, 62 percent of the respondents in March 2015 did not purchase a major household item in the past six months, down two points from October. The number of respondents planning to buy in the next six months increased by a point from October’s survey to 25 percent. Three percent of respondents in March indicated an intention over the next six months to acquire a mortgage, 5 percent had pans to acquire auto loans, 6 percent had plans for student loans, and 3 percent had plans to add credit card debt.
The number of Arkansas respondents who said they made a major household purchase in the past six months went up 5 points in March to 39 percent compared with the October survey. In Arkansas, only 24 percent said they planned to make a major household purchase in the next six months, down two points from October’s results. Of respondents with no plans to make a major household purchase, 13 percent said they were waiting for the right time while 87 percent had no plans to buy at all. Two percent of respondents intend to acquire a mortgage in the next six months, 2 percent had plans to acquire an auto loan, 3 percent to increase credit card debt and 5 percent to acquire student debt.
Missouri (including Greater Kansas City)
Most Missouri respondents indicated they have not made a major household purchase in the past six months but 39 percent reported making such a purchase, up 4 points from October’s survey. A quarter of Missouri, or 25 percent, said they planned to buy a major item in the next six months, down 2 points from October. Of those who did not plan to buy a major item, 20 percent said they were waiting for the right time to buy and 80 percent had no plans to buy at all, both percentages remained unchanged from October’s results. Four percent intend to acquire a mortgage, while 7 percent had plans to acquire an auto loan, 2 percent plan to accumulate credit card debt and 7 percent to acquire student debt. The percent of Missouri respondents who indicated they had no current consumer debt fell to 25 percent from 34 percent in October.
A majority of Oklahoma respondents indicated they have not made a major household purchase in the past six months and the number who did, 35 percent, was down 3 points from October’s survey. But 28 percent reported they were planning to make such a purchase in the next six months, up 6 points from October. Of those who did not plan to purchase a major household item, 20 percent, up 4 points from October’s survey, indicated that they were waiting for the right time to purchase and 80 percent, down 4 points, had no plans to buy at all. Four percent intend to acquire a mortgage in the next six months, 4 percent planned on auto loans, 3 percent planned on additional credit card debt and 6 percent planned to acquire student debt.
Recent Major Household Purchases
|Made major purchase|
in last 6 months
|Did not make purchase|
in last 6 months
Plan to Make a Major Household Purchase
|Plan to buy|
in the next 6 months
|Do not plan to buy|
in the next 6 months
Major Household Purchase Plans
|Waiting to purchase||No plans to purchase||Responses|
Percentage of Respondents with Consumer Debt
Percentage of Respondents who Anticipate Acquiring Credit
Percentage of Respondents who Anticipate Difficulty Acquiring Credit
|Yes||No plans to acquire credit||No|
Current Household Savings Rates
Planned Household Savings Rates
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.