SALT LAKE CITY — The University of Utah’s Kem C. Gardner Policy Institute found that Utah consumer sentiment increased in Nov. 2024.
Consumer sentiment relates to feelings people have about the economy. More positive feelings mean better consumer sentiment.
A press release said that Utah consumer sentiment increased by 9.1% between Oct. and Nov. The second-largest growth in positive sentiment since Nov. 2020.
“The large monthly change in Utah consumer sentiment appears to be correlated with the presidential election,” said Phil Dean, chief economist at the Kem C. Gardner Institute.
Dean said analysts will continue watching data to determine if the trend is long-term or short-lived.
Utah consumer sentiment survey
The survey asked seven questions, which covered current and expected future economic conditions.
According to the Kem C. Gardner Policy Institute, five of the questions were the same as those asked in the University of Michigan’s Survey of Consumer Sentiment.
University of Michigan’s survey had similar …