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.
