Utah’s consumer sentiment significantly increased in November (by 9.1%, from 80.7 in October to 88.1 in November), according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumer Sentiment. November sentiment in Utah shows the second-largest growth since November 2020. A similar survey by the University of Michigan found a much smaller change (1.8% increase) in sentiment among Americans during the same time (from 70.5 to 71.8).
“The large monthly change in Utah consumer sentiment appears to be correlated with the presidential election,” said Phil Dean, chief economist at the Gardner Institute. “Analysts will closely watch these variations to see if they are temporary or long-lived.”
