MISSOULA –Montana’s consumers were significantly more upbeat about the economy than their counterparts elsewhere in the country at the close of last year, according to a poll conducted by The University of Montana’s Bureau of Business and Economic Research.

 

BBER Director Patrick Barkey reports the most recent Montana Poll Index of Consumer Sentiment from December 2011 was 106.6, up from 100.8 in December 2010. The Montana index peaked at 132.5 in December 2007.

 

In contrast, the University of Michigan’s nationwide Index of Consumer Sentiment suggests that U.S. consumers have become increasingly downcast. The U.S. index was 69.9 in December 2011, down from 70.6 in December 2010.

 

“The continued higher confidence Montanans express in our economy than the national average is a remarkable finding,” Barkey said. “It reflects both the current economy and what people see as the prospects ahead. People are clearly more bullish on the economy here in Montana.”

 

The Montana poll, conducted regularly since 1982, assesses consumer confidence using survey questions identical to those used by the nationally recognized U.S. Index of Consumer Sentiment conducted by the University of Michigan.

 

Consumer confidence indexes are closely watched indicators that often predict swings in consumer spending, according to Barkey. The BBER index is based on a series of questions that ask consumers to evaluate their own economic status, the direction of the state economy and the climate for buying durable goods.

 

The index is benchmarked to a baseline of 100. The most recent findings are based on a representative Montana sample of 414 adults polled from Dec. 8 to Jan. 5 by BBER’s survey research department.

 

-UM News Service