Press Release National ACSI Q3 2016
ACSI Report: Good News for Economy as Rebound in Customer Satisfaction Accelerates
ANN ARBOR, Mich., (November 21, 2016) — Following two straight years of decline, the American Customer Satisfaction Index (ACSI) improves for the third consecutive quarter. The rebound this quarter is significant. Aggregate customer satisfaction with the goods and services purchased and consumed in the United States jumps 1.5 percent to reach 75.4 on a 100-point scale. Customer satisfaction now sits at its highest level in two years, although the recent gains account for barely half of the prolonged slide that began in the first quarter of 2014.
While gross domestic product growth slowed during the first two quarters of the year, the third quarter saw the year’s biggest uptick, with growth reaching 2.9 percent. Consumer spending growth has likewise been choppy, hitting 4.3 percent in the second quarter, but slipping to just 2.1 percent in the third quarter. The upward trend in satisfaction, should it persist, may help sustain stronger and more consistent growth.
“Whether rebounding customer satisfaction – combined with an improved job market and rising wages – is enough to offset weaknesses in other sectors remains to be seen, but there is reason to be optimistic,” says Claes Fornell, ACSI founder and Chairman.
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