Utahns grow less optimistic about economy for second straight month

SALT LAKE CITY (KUTV) — Utahns are feeling less confident about the economy for the second month in a row.

This is according to the most recent Zions Bank consumer sentiment survey.

According to Senior Economist Robert Spendlove, the decrease in consumer sentiment is likely due to conflict in Iran.

Since the start of the attacks in Iran back in February, the nation’s sentiment has declined by 21% and here in Utah its declined about 11%.

This comes as consumer sentiment fell 13.5% in April and .2% in May.

However, according to Spendlove, consumers in Utah are more confident in the economy than the rest of the country.

“Despite recent decreases, it’s great to see that Utah consumers remain more confident than U.S. consumers. Utah’s fundamental economic strengths — including strong employment and GDP growth — continue to help bolster consumer sentiment,” said Zions Bank senior economist Robert Spendlove in a press release.

He adds this is due to strong employment and GDP growth in the beehive state.

Zions Bank publishes consumer sentiment index’s monthly. This is after Utahns are surveyed across the state with questions inspired by the University of Michigan’s national consumer sentiment survey.