News Release

May 4, 2022 (Salt Lake City) – Utah’s consumer sentiment rose in April, according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumers. A similar survey by the University of Michigan found an increase in sentiment among Americans as a whole. Referring to the U.S., sentiment was 60.9 in April, compared to 54.0 in March. For an alternative version referring specifically to Utah, the index was 72.4 in April, compared to 68.0 in March.

“Consumers hoping for a return to more normal economic conditions continue to experience the effects of elevated inflation, lingering supply chain disruptions, and geopolitical uncertainty,” said Gardner Institute Chief Economist Phil Dean. “But even during these challenges, household balance sheets remain very strong. Plentiful jobs, low debt-to-income ratios, and a high stock of savings accumulated during the pandemic help to offset the continuing uncertainty.”

The Utah Consumer Sentiment 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.