December 1, 2021 (Salt Lake City) – Utah’s consumer sentiment fell in November, according to the Kem C. Gardner Institute’s Utah Consumer Confidence Survey. The University of Michigan measured a similar decline among Americans as a whole. For the U.S. as a whole, sentiment was 62.3 in November, compared to 68.5 in October. For an alternative version referring specifically to Utah, the index was 76.9 in November, compared to 81.5 in October. In November, only 28% of Utahns thought it was a good time to buy durable goods, down from 31% in October and 44% in March of this year.
”Utah consumers continue to feel the impact of the long arm of COVID-19,” said Juliette Tennert, chief economist for the Gardner Institute. “Supply chain disruptions, inflation worries, and uncertainty about the virus continue to mute consumer confidence, even as the Utah economy leads the nation in job creation.”
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.