News Release

Utah’s Consumer Sentiment rises in October

November 3, 2022 (Salt Lake City) – Utah’s consumer sentiment rose from 63.9 in September to 66.0 in October, according to the Kem C. Gardner Institute’s Survey of Utah Consumers. A similar survey by the University of Michigan found sentiment rose slightly from September (58.6) to October (59.9) among Americans as a whole.

“The Gardner Institute has now measured Utah Consumer Sentiment for 25 consecutive months,” said Gardner Institute Chief Economist Phil Dean. “Increases in both the state and national indices suggest a slightly better consumer outlook heading into the holiday season.”

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.