SALT LAKE CITY — Utah’s consumer sentiment slipped 8.4% in October, according to the Zions Bank Consumer Sentiment Survey. This decrease — from 80.1 in September to 73.4 in October — is statistically significant. A similar survey conducted by the University of Michigan reported that sentiment fell 2.7% among Americans as a whole during October.
“Utah’s consumer sentiment dropped more than the national average in October,” said Robert Spendlove, senior economist at Zions Bank. “However, over the past year, Utah’s decline has been far less severe — 9% compared to a 24% drop nationally. Utahns continue to show stronger optimism about the economy than consumers across the country.”
The full results are now available online.
About the Zions Bank Consumer Sentiment Survey
Zions Bank publishes Utah’s monthly consumer sentiment index in partnership with the University of Utah’s Kem C. Gardner Policy Institute. The survey questions are identical to essential questions from the University of Michigan’s national consumer sentiment survey, with additional questions specific to the state of Utah. The monthly report on consumer sentiment includes a comparison of the Utah and U.S. indices, along with response data for each survey question.
About Zions Bank
Zions Bank is Utah’s oldest financial institution and is the only local bank with a statewide distribution of branches operating 93 full-service branches. Zions Bank also operates 26 branches in Idaho and Wyoming. In addition to offering a wide range of traditional banking services, Zions Bank is also a leader in small business lending. Founded in 1873, Zions Bank has been serving the communities of Utah for more than 150 years. Additional information is available at www.zionsbank.com. A division of Zions Bancorporation N.A., Member FDIC.