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Lindley Estes is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.
Local consumer confidence has improved, according to Roanoke College Poll
According to Roanoke College Poll, consumer confidence across Virginia is relatively unchanged since last quarter.
But the Frederickburg region, which is within the Central Virginia ranking, showed marked improvement from this time last year and last quarter, as well as being higher than the state average.
The Roanoke College Poll interviewed 604 Virginians about their financial situation, general business conditions now and in the future, their inclination for purchasing durable goods and their thoughts on prices in the near- and long-term.
The Virginia Index of Consumer Sentiment (VAICS) rose to 84.5 in May, up 1.5-points since February 2014. In Central Virginia, that rating came in at 85.7.
The Virginia Index of Consumer Expectations (VAICE) is 84.7 in May, up slightly from 82.1 in February 2014. In Central Virginia, that confidence is even higher at 86.5.
Virginians report being better off financially today than a year ago and that business conditions have strengthened. The Virginia Index of Current Conditions (VAICC) is 84.2, little changed since February 2014, but up since 2013. In this category, Central Virginia was close to the state average at 84.5.
Consumer sentiment in all regions of Virginia, other than the Southwest and Southside, improved since February.
Taking the biggest plunges were consumer expectations in Southside and current conditions in the southwestern part of the state.
The highest gains were in the Tidewater region.
Interviewing for The Roanoke College Poll was conducted by The Institute for Policy and Opinion Research (IPOR) at Roanoke College in Salem, Va.
IPOR was founded at Roanoke College in 1983 to conduct regular surveys in the state on political, economic and social issues. It’s the only organization that measures consumer sentiment in Virginia.
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