Utah’s consumer sentiment increased 3.1% in March, according to the Zions Bank Consumer Sentiment Survey. This increase from 79.1 in February to 81.5 in March is within the survey’s margin of error. A similar survey conducted by the University of Michigan found that sentiment among Americans as a whole fell 5.8% in March.
The University of Michigan survey conducted interviews between February 17 and March 23, with about two-thirds completing after the start of the conflict in Iran. Similarly, the Zions Bank Consumer Sentiment survey collected interviews between February 19th and March 25th with the same proportion of completed surveys in March.
“It’s great to see a slight uptick in consumer sentiment, and it’s particularly notable given the situation in Iran,” Zions Bank senior economist Robert Spendlove said. “The data suggests that Utahns increased their confidence in local economic conditions despite the conflict.
This increase in Utah consumer sentiment follows a three-month streak of increases from November to January with a small dip in February.
