Consumer sentiment rebounds in Roanoke College survey

Published: Aug. 23, 2022 at 8:30 PM EDT
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SALEM, Va. (WDBJ) - A new poll from Roanoke College indicates Virginians are feeling more optimistic about their finances and the future of the state’s economy.

The Virginia Index of Consumer Sentiment rose in the third quarter of 2022 after reporting significant declines over the first half of the year.

The Institute for Policy and Opinion Research at Roanoke College said a major factor is inflation, which stabilized in July.

Dr. Alice Kassens is a Professor of Economics at Roanoke College and Senior Analyst with IPOR.

“It’s the largest increase we’ve seen since February 2018,” Kassens told WDBJ7 in an interview. “And while I expected it to increase, just because it’s highly correlated with prices, like gas prices, I didn’t expect it to come up that much.”

Kassens said it’s too early to tell if the rise in consumer sentiment is likely to continue, but she said, at least it’s currently moving in the right direction.

For more information on the survey, click on the following link: