October 11, 2021 (Salt Lake City) – The Kem C. Gardner Policy Institute measured a modest gain in Utah’s consumer confidence during September, following two months of sharp declines. The equivalent U.S. index, prepared by the University of Michigan, found an increase of similar magnitude among Americans as a whole.
“Both indices peaked this past March and April as COVID-19 vaccinations became widely available,” said Juliette Tennert, chief economist at the Gardner Institute. “Confidence waned during the summer months as it became clear the pandemic was still very much with us. The recent increase bodes well for economic activity this fall and winter.”
The Utah Consumer Confidence Survey uses comparable questions to the University of Michigan’s Survey of Consumers. These questions measure residents’ views of present and future economic conditions. Both surveys include a random sample of consumers, including demographic questions to assess the representativeness of the sample.
The full results are now available online.