A new survey shows consumer sentiment in Virginia is on the upswing.
How optimistic do you feel about the economy? According to a new survey from Roanoke College, people are feeling pretty good.
"We had a big rebound in consumer sentiment," says Alice Kassens at the Institute for Policy and Opinion Research. "People are feeling much more optimistic today than they were just a few months ago."
The survey shows an eight-point rebound since the spring.
"That's the biggest gain we've had since February 2018," she explains. "And certainly we were humming along with a very strong economy right up to the pandemic."
Kassens says the cause of the improving consumer sentiment is the falling price of gasoline.
"We've seen a significant drop, about a 60-cent drop in a gallon of gasoline in the last four weeks," she says. "So I think that's the primary driving piece."
Overall, consumer sentiment is still lower than it was at this time last year. But she says the size of the rebound in the latest poll is a surprising sign of relief about the state of the economy and optimism about the future.
This report, provided by Virginia Public Radio, was made possible with support from the Virginia Education Association.
