SALT LAKE CITY — Compared to the rest of the country, Utahns are considerably more optimistic about the future of the economy and where they stand financially, according to a new report.
The report by the Kem C. Gardner Policy Institute at the University of Utah showed that consumer sentiment among state residents reached its highest levels in over three years last month. In December, Utah consumer sentiment increased by 3.6% over November to 91.3 percent.
Consumer sentiment is how people feel about or view the current state of the economy and their personal financial situation.
The institute reported the gap between how Utahns feel about the economy and the feeling among Americans as a whole, which stands at 74%, is the largest since the local index began in Oct. 2020.
"This gap like reflects several factors, including Utah's strong economic performance at the end of 2024 and optimism among many Utahns about the upcoming administration," said Phil Dean, chief economist at the institute.
In the survey, Utah residents were asked seven questions "concerning current and expected future economic conditions," the institute wrote, with responses ranging from better Now, About the Same and Worse Now.
