SALT LAKE CITY — Utah’s consumer sentiment rose 0.3% in September, according to the Zions Bank Consumer Sentiment Survey. This increase — from 79.9 in August to 80.1 in September — is within the survey’s margin of error. A similar survey conducted by the University of Michigan reports sentiment fell 5.3% during September among Americans as a whole.
“Components of Utah’s consumer sentiment index changed little between August and September,” said Phil Dean, chief economist at the Kem C. Gardner Policy Institute.
“However, expectations of the national economy over the next five years soured for Utahns, declining from August to September.”
In explaining the decline in sentiment among consumers nationwide, the University of Michigan notes consumers’ frustration with the persistence of high prices, with nearly half of respondents mentioning high prices and their negative impact on personal finances.
The full results are now available online.
About the Zions Bank Consumer Sentiment Survey
Zions Bank publishes Utah’s monthly consumer sentiment index in partnership with the University of Utah’s Kem C. Gardner Policy Institute. The survey questions are identical to essential questions from the University of Michigan’s national consumer sentiment survey, with additional questions specific to the state of Utah. The monthly report on consumer sentiment includes a comparison of the Utah and U.S. indices, along with response data for each survey question.
