Economic Indicators
The Gardner Institute provides economic indicators for the U.S. and Utah, publishes an economics dashboard, administers the monthly consumer sentiment survey, produces Utah Informed, and prepares the annual Economic Report to the Governor.
December 2023 Utah Consumer Sentiment
Utah’s consumer sentiment rose 8.4% in December (from 73.6 in November to 79.8), according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumer Sentiment. A similar survey by the University of Michigan found that sentiment rose 13.7% among Americans as a whole during the same time (from 61.3 to 69.7).
Utah Economic Council Forecast, December 2023
The Utah Economic Council, convened by the David Eccles School of Business and Governor’s Office of Planning and Budget, publishes regular economic forecasts related to the Utah and U.S. economies. This includes potential risks to both the state and national economies that the council assesses and weighs.
November 2023 Utah Consumer Sentiment
Utah’s consumer sentiment rose 6.4% in November (from 69.1 in October to 73.6), according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumer Sentiment. A similar survey by the University of Michigan found that sentiment fell 4.0% among Americans as a whole during the same time (from 63.8 to 61.3).
October 2023 Utah Consumer Sentiment
Utah’s consumer sentiment fell 9.4% in October (from 76.3 in September to 69.1), according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumer Sentiment. A similar survey by the University of Michigan found that sentiment fell 6.0% among Americans as a whole during the same time. Utah Consumers appear to be uncertain about economic conditions. Relatively high interest rates and unaffordable housing have to be balanced with a labor market that remains strong.
State of the State’s Housing Market, 2022-2024
The pandemic years created unmatched volatility in Utah’s housing market. The volatility in these past two years surpassed 50 years of housing history. Building permits for residential units increased by 26% in 2021, only to fall by 26% in 2022. These COVID-19 pandemic years now join the Great Recession as one of those unique moments in Utah's housing market. The Great Recession produced 16 consecutive quarters of declining housing prices, while the pandemic produced the shortest and steepest homebuilding expansion and contraction on record.
Utah Economic Council Forecast, September 2023
The Utah Economic Council, convened by the David Eccles School of Business and Governor’s Office of Planning and Budget, publishes regular economic forecasts related to the Utah and U.S. economies. This includes potential risks to both the state and national economies that the council assesses and weighs.
September 2023 Utah Consumer Sentiment
Utah’s consumer sentiment rose 4.8% in September (from 71.5 in August to 76.3), according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumer Sentiment. A similar survey by the University of Michigan found that sentiment slightly fell among Americans as a whole during the same time
Utah’s Consumer Sentiment Ticks up Slightly in July
August 11, 2023 (Salt Lake City) – Utah’s consumer sentiment edged up in July to its highest level since February 2022 (from 76.3 in June to 77.3 in July), according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumer Sentiment. A similar survey by the University of Michigan found a larger increase among Americans as a whole (from 64.4 in June to 71.6 in July). […]
August 2023 Utah Consumer Sentiment
Utah’s consumer sentiment fell 5.8% in August (from 77.3 in July to 71.5), according to the Kem C. Gardner Institute’s Survey of Utah Consumer Sentiment. This is Utah’s first statistically significant decline in sentiment since February. A similar survey by the University of Michigan found sentiment fell among Americans as a whole, though the drop was smaller than Utah’s and not statistically significant.
Utah Economic Council Forecast, June 2023
Range Forecast for Selected Economic and Business Indicators, 2023 and 2024