SALT LAKE CITY — Utah’s consumer sentiment increased 0.9% in January, according to the Zions Bank Consumer Sentiment Survey. This increase, from 79.9 in December to 80.6 in January, is within the survey’s margin of error. A similar survey conducted by the University of Michigan reports that sentiment increased by 6.6% among Americans as a whole during January.
Utah consumer sentiment improved or remained flat in all categories except for durable goods, which include items like household appliances and electronics.
“While Utah confidence levels are lower than a year ago. It’s good to see them improving over the past few months,” said Zions Bank senior economist Robert Spendlove.
With the small monthly increase in Utah consumer sentiment, this marks three consecutive monthly increases. However, Utah consumer sentiment remains 11.8% lower than a year ago, while U.S. consumer sentiment remains 21.3% lower.
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.
About Zions Bank
Zions Bank is Utah’s oldest financial institution and is the only local bank with a statewide distribution of branches operating 92 full-service branches. Zions Bank also operates 26 branches in Idaho and Wyoming. In addition to offering a wide range of traditional banking services, Zions Bank is also a leader in small business lending. Founded in 1873, Zions Bank has been serving the communities of Utah for more than 150 years. Additional information is available at www.zionsbank.com. A division of Zions Bancorporation N.A., Member FDIC.
