Utah’s Consumer Sentiment rises in December

January 6, 2023 (Salt Lake City) – Utah’s consumer sentiment increased from 64.1 in November to 68.7 in December, according to the Kem C. Gardner Policy Institute’s Survey of Utah Consumers. A similar survey by the University of Michigan also found sentiment rose from November (56.8) to December (59.7) among Americans as a whole. The Gardner Institute has now measured Utah Consumer Sentiment for 27 consecutive months. The December 2022 Index for both Utah and the US increased over the prior month, suggesting a slightly better outlook.

“Current economic challenges from an overheated economy include high inflation, rising interest rates, and slowdowns in construction and real estate.  Consumer sentiment has reflected these challenges,” said Phil Dean, Chief Economist at the Gardner Institute.  “Yet, there are many often under-appreciated economic buffers.  Extremely low employment coupled with improving supply chains and strong overall household, business, and state and local government financial reserves provide a hedge against these challenges in the new year.” 

The full results and methodology are now available online.



The Kem C. Gardner Policy Institute serves Utah by preparing economic, demographic, and public policy research that helps the state prosper. We are Utah’s demographic experts, leaders on the Utah economy, and specialists on public policy and survey research. We are an honest broker of INFORMED RESEARCH, which guides INFORMED DISCUSSIONS, and leads to INFORMED DECISIONS™. For more information, please visit gardner.utah.edu or call 801-587-3717. 


The Eccles School is synonymous with ‘doing.’ The Eccles experience provides a world-class business education with a unique, entrepreneurial focus on real-world scenarios where students put what they learn into practice long before graduation. Founded in 1917 and educating more than 6,000 students annually, the University of Utah David Eccles School of Business offers nine undergraduate majors, four MBAs, eight other graduate programs, a Ph.D. in seven areas and executive education curricula. The School is also home to 12 institutes, centers, and initiatives, which deliver academic research and support an ecosystem of entrepreneurship and innovation. For more information, visit Eccles.Utah.edu or call 801-581-7676.