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.
