News Release

January 8, 2025 (Salt Lake City) – Utah’s consumer sentiment increased again in December (3.6%, from 88.1 in November to 91.3 in December), according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumer Sentiment. A similar survey conducted by the University of Michigan found a slightly smaller change (3.1% increase) in sentiment among Americans as a whole during the same time (from 71.8 to 74).

“This latest month marks the highest level of consumer sentiment among Utah residents in over three years,” said Phil Dean, chief economist at the Gardner Institute. “It also represents the largest disparity between the U.S. and the state’s consumer sentiment since the Utah index began in October 2020. This gap likely reflects several factors, including Utah’s strong economic performance at the end of 2024 and optimism among many Utahns about the incoming administration.”

The full results are now available online.

Utah’s consumer sentiment survey includes seven questions concerning current and expected future economic conditions. Five of the questions are identical to those included in the University of Michigan’s Survey of Consumer Sentiment in the U.S. Two of those questions refer to business or economic conditions in the country (rather than in one’s home state, for example).

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