APPREHENSIONS FOR FUTURE REDUCE LOCAL

CONSUMER SENTIMENT INDEX

 

               

 

 

CONCERN FOR ECONOMY CUTS CONFIDENCE INDEX

 

Assessments of the current condition of the economy fell sharply among local families, with negative attitudes expressed about business conditions for the rest of the year.

 

Declining confidence in the economy pushed the local Index of Consumer Sentiment (ICS) down to 83.5 in the first quarter of 2008, continuing the ICS decline from the 94.5 found in early 2007 (see chart, above).  The ICS is now on par with its level early in the decade.

 

These findings emerge from analysis of the winter (February-March) survey of households of the five county Peoria Metropolitan Statistical Area (MSA; Peoria, Tazewell, Woodford, Marshall and Stark counties).

 

 

 

 

METHOD

 

The surveys of Peoria MSA economic attitudes are performed by Dr. Bernard Goitein, Director of Survey Research at Bradley University's Foster College of Business Administration.  Funding for the present survey was provided by the Turner Center for Entrepreneurship at Bradley University’s Foster College of Business Administration.

 

The survey results are based on telephone interviews with 211 households in the Peoria Metropolitan Statistical Area (MSA: Peoria, Tazewell, Woodford, Marshall, and Stark Counties), performed during the evenings of February-March 2008.    

 

A random sample of residential listings was drawn from area telephone directories, where listings were selected to give each a proportionate chance of being included.  Interviewers attempted to contact the designated respondent in each of the 531 homes, using up to six contact attempts during varied days and times of day in the survey period. Using these procedures, 70 percent of sampled respondents were contacted.  Those contacted were asked to participate in the survey, with 57 percent of those contacted agreeing to be interviewed. One adult, 18 years of age or older, was selected for interview in each of the 211 households. 

 

The chances are about seven in ten that if every residence listed in area directories had been approached using these questionnaire administration procedures, the percentages found to the survey questions would have differed from those observed in this sample by no more than 3.5 percentage points in either direction.

 

For a complete report, contact the Study Director, Dr. Bernard Goitein (309-677-2262). 

 

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