Report Says Sentiments Down in River Valley Area

Consumer sentiment in the Fort Smith area dropped during the third quarter, according to a preliminary report issued by the Center for Business Research and Economic Development at the University of Arkansas-Fort Smith.

The entire 17-item survey, distributed to 2,700 households, is expected to be published in the Fort Smith Regional Economic Outlook Report in December. The report is sponsored by Arvest Bank.

The Fort Smith MSA Index of Consumer Sentiment was 62.4, down 3.3 percent from the second quarter result of 64.5. Index scores below 100 reflect less optimism about the economy than scores above 100.

“The economy over the summer simply did not meet expectations, especially in the job recovery area,” CBRED director Kermit Kuehn said in a news release. “Add negative results in residential real estate and other disappointing news and you get regional consumers who were less optimistic about the economy in the short term than they were back in June at the end of the second quarter.”

Additionally, the Index for Current Conditions dropped 4.9 percent to 62.2, and the Index for Consumer Expectations 2.4 percent to 62.5, during the same period.