Roanoke College poll finds improving consumer sentiment

A Roanoke College Poll finds rising optimism among Virginia consumers.

The college’s Virginia Index of Consumer Sentiment (VAICS) rose to 80.9 in May, a 12 percent increase since the first quarter of 2013.

The improving sentiment in the Virginia is fueled by optimism about the future economy and household finances. More than 37 percent of those surveyed believe their finances will improve over the year, and more than 41 percent expect improving business conditions.

Buoyed by this confidence, another measurement, the Virginia Index of Consumer Expectations (VAICE), increased 15 percent since the first quarter to 78.9.

Although to a lesser degree, Virginians also report improved household finances and business conditions since a year ago. The Virginia Index of Current Conditions (VAICC) rose 11 percent to 84.0.

The Roanoke College Poll interviewed 603 Virginians about their financial situation, general business conditions now and in the future, their inclination for purchasing durable goods, and their thoughts on prices in the near-term. Indexes of current conditions, consumer expectations, consumer sentiment and price expectations were constructed using methods similar to the popular national measures out of the University of Michigan.