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Survey: Arkansas Feel Mixed About Health of Economy

ARKANSAS -- A first of its kind survey reveals Arkansas aren't as optimistic about their economy as their neighbors to the north and west.
ARKANSAS -- A first of its kind survey reveals Arkansas aren't as optimistic about their economy as their neighbors to the north and west.

Results of Arvest Bank’s first consumer sentiment survey were released Thursday and showed index for Arkansas was 67.4, trailing that of Missouri at 68.6 and Oklahoma at 76.4. But all three states lag behind the the national sentiment index which, for June, was 82.5.

The Arvest Consumer Sentiment Survey is conducted by the Center for Business and Economic Research in the Sam M. Walton College of Business at the University of Arkansas and The University of Oklahoma’s Public Opinion Learning Laboratory conducted the 1,200 phone surveys.

Lead economist for the survey, Kathy Deck said the findings show Arkansans are mixed when it comes to their outlook on the health of the economy.

"Consumers in the region, and especially in Arkansas, are quite leery about overall economic conditions in the near future," Deck said in a statement, "although they reported being relatively upbeat about their current financial status."

She added that factors like the declining labor force in the face of improving payroll employment contribute to the seemingly contradictory nature of other economic data for the state. It can be a forecast for an up and down future, though, until folks feel more confident about their own income growth.

“Arkansas can expect continued on-again, off-again growth until consumers indicate that they feel confident about their economic futures," Deck said.

Arvest says they plan to conduct the Consumer Sentiment Survey will be conducted twice a year, with the next survey expected to be completed in late November.

The survey also broke down the numbers by income, home ownership, size of house hold and employment status.  Chek out those numbers below:

Index by Income


All Families

Families Under $75,000

Families Over $75,000

Regional

71.4

65.8

82.6

Arkansas

67.4

62.6

82.2


Index by Age Subgroup


Aged 18-24

Aged 25-44

Aged 45-64

Aged 65+

Regional

73.3

78.3

69.3

63.4

Arkansas

54.8

73.9

68.1

62.3


Index by Educational Attainment


High School or Less

Bachelor’s Degree

Graduate Degree

Regional

64.0

76.1

85.3

Arkansas

60.8

60.8

81.7




Index by Presence of Children in the Home


Children

No Children

Regional

69.5

69.9

Arkansas

69.5

66.4


Index by Employment Status


Employed

Unemployed

Not in Labor Force

Regional

74.2

61.3

63.8

Arkansas

71.8

57.3

62.8


Index by Homeownership Status


Own Home

Rent

Regional

71.1

69.8

Arkansas

66.1

68.6



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