UTAH

Utah consumer sentiment drops sharply in March

Apr 5, 2022, 7:41 AM | Updated: 8:26 am
Consumer Shopping

Photo Credit: Canva...
Consumer Shopping Photo Credit: Canva

The Kem C. Gardner Institute at the University of Utah says its index of consumer sentiment in Utah dropped more than ten points in March. It’s the largest monthly decrease in the index since it was first published in October 2020.

The index is based on answers to a series of questions, including whether consumers believe their families will be better off a year from now. It’s similar to the Index of Consumer Sentiment produced by the University of Michigan which found consumer sentiment was down in March by 3.4% nationwide.

“Utahns are feeling the effect of increased food and gas prices,” said senior research economist Joshua Spolsdolff in a news release.

He also said consumers are concerned about the conflict in Ukraine and rising interest rates.

The full report is available on the Gardner Institute website.

Related reading;

Utah

Hatch courthouse...
Kira Hoffelmeyer

Utah’s longest serving senator, Orrin Hatch, dies at 88

Orrin Hatch, Utah's longest serving senator, has died at age 88.
2 months ago
Pictured here are items seized from one of four drug busts authorities in Carbon County conducted o...
Mark Jones

Carbon County authorities make significant drug busts

Authorities in Carbon County, with a search warrant, have conducted four drug busts over the past three weeks.
2 months ago
...
Mark Jones

Soap box derby set for Saturday in Daybreak

Daybreak will host the second annual Soap Box Derby on Saturday from noon to 3 p.m.
2 months ago
State street traffic sign...
Samantha Herrera

State Street traffic restrictions starting soon

State Street traffic restrictions are slated to start soon and continue into August. Work will impact areas downtown and near the Capitol.
2 months ago
Garth Brooks Salt Lake...
Simone Seikaly

Garth Brooks sells out second Salt Lake concert in 45 minutes

It was the second time in less than a year that Garth Brooks sold that many tickets for a Salt Lake City concert so quickly.
2 months ago
A Smith's recycling bin...
Devin Oldroyd

Recycle single-use plastic at your local Smith’s

In honor of Earth Month, Smith's Food & Drug is encouraging its customers to recycle thin-filter plastic materials at their local stores.
2 months ago

Sponsored Articles

Prescription opioid...
Know Your Script

Prescription opioid misuse | How to protect your family from the opioid epidemic

Studies have shown that prescription opioid misuse has increased since COVID-19. So what do you need to know about these opioids?
...

Tax Tuesday: The Most Common Mistakes People Make When Filing Their Taxes

Fortunately, for most average earners, they will not end up owing overpayments received for the Child Tax Credit in 2021.
...

Tax Tuesday: How will last year’s child tax credits affect you?

Fortunately, for most average earners, they will not end up owing overpayments received for the Child Tax Credit in 2021.
...

Tax Tuesday: Key Information Before the Filing Deadline

Businesses can receive a credit of up to $5,000 per employee in 2020 and up to $21,000 per employee in 2021.
national heart month...
Intermountain Healthcare

National Heart Month: 5 Lifestyle Changes to Make Today to Keep You Heart Healthy

Heart disease is the leading cause of death for both men and women. One person dies every 36 seconds in the United States from cardiovascular disease
Joseph Smith Memorial Building...
Temple Square

The Joseph Smith Memorial Building is an icon of Salt Lake City | Why hosting an event at this beautiful location will make you a hero this year

Here's why hosting an event at the iconic Joseph Smith Memorial Building in downtown Salt Lake City will make you a hero this year.
Utah consumer sentiment drops sharply in March