Arvest Bank has commissioned four universities, including two in Oklahoma, to develop a new survey of consumer sentiment for Oklahoma, Arkansas and Missouri.
The Arvest Bank Consumer Sentiment Survey will be released twice a year, with the first survey planned for spring 2014. The survey results are designed to complement a long-running national survey of consumer sentiment by the University of Michigan and Thomson Reuters.
“This type of survey has long been needed on the state level and will help us better understand the economic mood of our friends and neighbors while providing factual guidance for our small-business customers as to the economic mood in their markets,” said Jason Kincy, marketing director for Arvest Bank.
The research will be led by the University of Arkansas, while the University of Oklahoma's Public Opinion Learning Laboratory will conduct the telephone surveys. Oklahoma City University, Missouri State University and the University of Arkansas will analyze state results.
Russell Evans, director of the Steven C. Agee Economic Research and Policy Institute at OCU's Meinders School of Business, said the survey will be a valuable tool for consumers, businesses and policymakers in the region.