|By PR Newswire||
|August 26, 2014 08:02 AM EDT||
ANN ARBOR, Mich., Aug. 26, 2014 /PRNewswire/ -- Customer satisfaction in the aggregate continues to decline in the second quarter of 2014, prompted by weak results across the automobile and light vehicle industry, according to a report released today by the American Customer Satisfaction Index (ACSI). The national ACSI score drops another 0.1 percent to 76.1 on a 100-point scale after experiencing a precipitous 0.8 percent decline in the prior quarter.
"The ongoing erosion in customer satisfaction does nothing to help the economy's ability to generate consumer demand," says Claes Fornell, ACSI Chairman and founder. "There are already signs that sales of durable goods are slowing down, with the auto industry experiencing slower growth in new car sales this year compared to a year ago."
While the rate of decline in overall customer satisfaction is not as severe as it was in the first quarter, the index continues to trend downward at a time when economic growth needs to pick up pace.
"Based on the new ACSI results, growth in consumer spending will continue to be curtailed as weak customer satisfaction deters repeat buying and low consumer discretionary income inhibits first-time purchases," says Fornell.
The ACSI Quarterly Update on U.S. Overall Satisfaction and Automobile Report 2014 is available for free download at www.theACSI.org. Follow the ACSI on Twitter at @theACSI and Like us on Facebook.
No advertising or other promotional use can be made of the data and information in this release without the express prior written consent of ACSI LLC.
The ACSI produces a national index of customer satisfaction, updated quarterly, plus annual scores for more than 230 companies in 43 consumer industries that are released throughout the year. The ACSI conducts over 70,000 interviews each year to collect customer evaluations from random samples of households that are representative of the U.S. population.
ACSI and its logo are Registered Marks of the University of Michigan, licensed worldwide exclusively to American Customer Satisfaction Index LLC with the right to sublicense.
SOURCE American Customer Satisfaction Index
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