Virginians continue to feel good about the economy, but that attitude is starting to trend downward, according to a new consumer sentiment poll from Roanoke College.
The Virginia Index of Consumer Sentiment was at 90.4 in May, down 3 points since last quarter and an 8-point slide since August 2016, when it was at a record high. However, it remains above the index average of 85.9.
Consumer sentiment is high as the state unemployment rate continues to fall and household finances improve, the poll found. However, Democrats and Republicans reported dramatic differences in economic expectations. Republicans have shown increasing optimism about the economy since the November 2016 election, while Democrats’ expectations have fallen. The poll shows 55.8 point difference between the two parties.
