Montana consumers feeling good
By the Associated Press - 04/17/07
The consumer sentiment survey index, which measures how people feel about the state of the economy, remains close to the all-time high from early last year, said Paul Polzin, director of the research bureau.
“This provides one more confirmation of Montana’s strong economy,” Polzin said.
The consumer survey index has been slipping nationally, Polzin noted. But Montana continues to enjoy very low unemployment and does not seem affected by the real estate bust seen in some places, he said.
The bureau has published the quarterly survey since 1982. Consumer sentiment reached its lowest point just before the 1990-91 recession. For the most recent survey, conducted by telephone Feb. 15-March 12, 510 people were contacted.
Polzin called Montana’s strong natural resource economy, driven in part by high prices for energy and other commodities, “icing on the cake” for Montana’s economy. He said all of the basic economic sectors are performing well. “Our forecast is for continued strong growth in the Montana economy because the underlying factors are in place,” Polzin said.
He said the survey for the first quarter of this year measured 128 on the index, up from 123 late last year and down a bit from the all-time high of 131 early last year. Polzin said the small changes are not meaningful statistically.
“The Montana consumer index remains at, or near, its all time high,” he said.
The periodic survey uses the same five questions about economic outlook that are asked in a monthly nationwide poll by the University of Michigan.
The survey, done with a random telephone poll, asks consumers if they are better off or worse off financially than a year ago and where they expect to be a year from now.
They also are asked to assess business conditions in Montana state during the next 12 months, and the state’s overall economic health for the next five years. In addition, they are asked if they find this a good time to make a major purchase.
On the Net:
Research bureau: www.bber.umt.edu/
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