Wednesday - November 22, 2017
HPU Survey: Consumer Sentiment High
Written by Staff   
Tuesday, 07 November 2017 16:14

HIGH POINT -- North Carolinians remain optimistic about major economic indicators such as their personal finances, according to the High Point University Poll’s latest Consumer Sentiment Index.

The HPU Poll’s measure of consumer sentiment is an index that comprises five separate questions that each ask respondents about different aspects of how they view the U.S. economy and their own personal finances. Some findings for individual questions show why the overall index is beginning to climb, reflecting less pessimism among consumers.

The new index, based on feedback from North Carolinians in late October and early November, remains at 92.3, which is the same as the last index that was taken in February but three points lower than the same time last year.

“Our most recent poll does not indicate a change in how people in North Carolina feel about the economy,” says Brian McDonald, associate director of the HPU Poll and adjunct instructor. “This new poll indicates a status-quo in consumer sentiment as 2017 comes to an end.”
-Forty percent of North Carolina residents said they are better off financially than they were a year ago, compared to 46 percent of respondents in November 2016.

-Eleven percent of North Carolinians – compared to 10 percent in November 2016 – expressed concern that they would be worse off financially a year from now.

-Forty-two percent of respondents expected good business conditions in the next 12 months. In November 2016, that number was 43 percent.

“The HPU Poll’s Index of Consumer Sentiment has been on an upward trend since September 2013 at 70.4 on a 100 point scale and now appears to be leveling off in the low 90s,” says Dr. Daniel Hall, associate professor of economics and HPU economics department chair. “Around 2013, we were mostly recovered from the Great Recession of 2008 and were expanding, thus consumer outlook was growing as the accompanying employment prospects improved. However as expansion continues, the eventual inflation accompanies it and means that the cost of living becomes the new concern to consumers.”

 

 
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