Sentiments across the commonwealth - Elderscholar 2014
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This document discusses consumer sentiment in Virginia based on surveys conducted by the Institute for Policy and Opinion Research (IPOR). It provides details on IPOR's survey methodology and presents data on how Virginians view their current and future financial situations compared to a year ago. The data shows that in February 2014, 29% felt better off financially currently compared to a year ago while 28% felt worse off. Looking ahead a year, 37% expected to be better off while 13% expected to be worse off. It also presents index data for Virginia measuring current conditions, expectations, and overall sentiment, which were all up compared to previous months and years.
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Sentiments across the commonwealth - Elderscholar 2014
- 1. Sentiments across the Commonwealth Local Economic Indicators Dr. Alice Louise Kassens John S. Shannon Professor of Economics March 2014 Elderscholar Presentation
- 2. Economic Indicators What are they? Instruments used to “take the pulse” of the economy
- 3. Economic Indicators What is their purpose? • Status of the economy (local, national) • Comparison across localities • Effectiveness of policy
- 4. Economic Indicators Examples: GDP (Gross Domestic Product)
- 7. Economic Indicators Examples: Consumer sentiment
- 8. Consumer sentiment Consumer opinion of the health of the economy
- 9. Consumer Sentiment in the Commonwealth Institute for Policy and Opinion Research
- 10. Virginia Consumer Sentiment IPOR • Goal ~ 600 completed surveys • Automatic dialer • ~ 30% cell phone • 15 stations with paid employees • Up to three calling periods per day • ~ 6 minutes per completed survey, calling completed in ~ 3 days • Margin of error for full sample +/- 4%
- 11. Virginia Consumer Sentiment Consumer Sentiment Would you say that you and your family living there are better off or worse off financially than you were a year ago? CURRENT Now looking ahead: do you think that a year from now you and your family living there will be better off financially, worse off, or just about the same as now? FUTURE Now, turning to business conditions in the country as a whole, would you say at the present time that business conditions are better off, worse off, or just about the same as they were a year ago? CURRENT Looking ahead, which would you say is more likely--that the country as a whole will have continuous good times during the next five years or that we will have periods of widespread unemployment or depression or what? FUTURE About big things people buy for their homes - such as furniture, a refrigerator, stove, television, and things like that. Generally speaking, do you think now is a good or a bad time for people to buy major household items? CURRENT
- 12. Virginia Consumer Sentiment Would you say that you and your family living there are better off or worse off financially than you were a year ago? BETTER OFF WORSE OFF 29% 28% FEB 2014
- 13. Virginia Consumer Sentiment Now looking ahead: do you think that a year from now you and your family living there will be better off financially, worse off, or just about the same as now? BETTER OFF WORSE OFF 37% 13% FEB 2014
- 14. Virginia Consumer Sentiment Now, turning to business conditions in the country as a whole, would you say at the present time that business conditions are better off, worse off, or just about the same as they were a year ago? BETTER OFF WORSE OFF 28% 37% FEB 2014
- 15. Virginia Consumer Sentiment Looking ahead, which would you say is more likely--that the country as a whole will have continuous good times during the next five years or that we will have periods of widespread unemployment or depression or what? BETTER OFF WORSE OFF 44% 27% FEB 2014
- 16. Virginia Consumer Sentiment About big things people buy for their homes - such as furniture, a refrigerator, stove, television, and things like that. Generally speaking, do you think now is a good or a bad time for people to buy major household items? BETTER OFF WORSE OFF 31% 36% FEB 2014
- 17. Virginia Consumer Sentiment Virginia Index of Current Conditions (VAICC) FEB 2014 84 UP 5 POINTS SINCE November 2013
- 18. Virginia Consumer Sentiment Virginia Index of Current Conditions (VAICC) FEB 2014 84 UP 8 POINTS SINCE February 2013
- 19. Virginia Consumer Sentiment Virginia Index of Consumer Expectations (VAICE) FEB 2014 82 UP 8 POINTS SINCE November 2013
- 20. Virginia Consumer Sentiment Virginia Index of Consumer Expectations (VAICE) FEB 2014 82 UP 9 POINTS SINCE February 2013
- 21. Virginia Consumer Sentiment Virginia Index of Consumer Sentiment (VAICS) FEB 2014 83 UP 7 POINTS SINCE November 2013
- 22. Virginia Consumer Sentiment Virginia Index of Consumer Sentiment (VAICS) FEB 2014 83 UP 8 POINTS SINCE February 2013
- 23. Virginia Consumer Sentiment Virginia compared to the United States FEB 2014
- 24. Questions Thank you for your time kassens@roanoke.edu