Bank commissions poll.
Arvest Bank’s commissioned poll measuring the economic expectations and outlook of consumers in Arkansas, Missouri and Oklahoma is currently underway. More than 1,200 consumers in the three-state area will complete the phone surveys over the next several weeks.
The Arvest Consumer Sentiment Survey will measure respondents’ opinions on their personal financial situation, future plans and general feelings about the economy. This will provide for a comparison with the national Surveys of Consumers conducted monthly by the University of Michigan for Thomson/Reuters.
The results of this first telephone survey, conducted by the University of Oklahoma’s Public Opinion Learning Laboratory (POLL), will establish a baseline for future comparison of subsequent surveys that will be conducted every six months. The results are expected in approximately two months.
The data will be tabulated by the Center for Business and Economic Research (CBER) at the University of Arkansas at Fayetteville and will be 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.
The survey is designed to measure three primary indices mirroring the national Thomson/Reuters Michigan Surveys of Consumers. Those indices are: Index of Consumer Sentiment; Index of Consumer Expectations; and Current Conditions Index.
The questions will ask if respondents are doing better financially than they were a year ago or if they think they will be doing better or worse, financially, in the next year than they are doing now. Other questions will focus on respondents’ opinions on planned household purchases such as major appliances or new vehicles, how much consumer debt they have and how much of their income they are saving.