The Rocky Mountain poll: Consumer confidence up in Arizona

February 04, 2011

The Arizona Department of Revenue reported this week that total taxable retail sales in Arizona were $3.8 billion in November -- up almost 5 percent year-over-year and 13 percent higher than October. Dennis Hoffman, director of the L. William Seidman Research institute at the W. P. Carey School of Business, has been forecasting tax revenues for the governor's Office of Strategic Planning and Budget since 1982. He says that the November sales increase is good news for a state facing the third year in a row of budget shortfalls -- evidence that residents who have held onto their jobs during the recent recession are beginning to spend again. The latest Rocky Mountain Poll which sampled 700 heads of household statewide in January, shows that consumer confidence in Arizona is at its highest level since May 2008. "This is real evidence that the attitudes of Arizona consumers are improving," Hoffman said. Knowledge@W. P. Carey talked with Earl de Berge at Behavior Research Center about the results from January's survey, and what they hint at for the coming months. (8:37)