Utah’s consumer sentiment decreased by 0.5% in June (from 77.7 in May to 77.3), according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumer Sentiment. This monthly change is not statistically significant. A similar survey by the University of Michigan found that sentiment fell 1.3% among Americans as a whole during the same time (from 69.1 to 68.2).
“U.S. and Utah consumer sentiments appear to be taking a summer pause,” said Phil Dean, chief economist at the Gardner Institute. “All eyes remain fixed on inflation and the actions of the Federal Reserve, which appear to also be in a holding pattern in this uncertain economic environment.”
