Utah Consumer Sentiment Rises 1.8% in July as State Adds 25,200 Jobs
Updated
Updated · KSL.com · Aug 21
Utah Consumer Sentiment Rises 1.8% in July as State Adds 25,200 Jobs
1 articles · Updated · KSL.com · Aug 21
Summary
Utah’s consumer sentiment index climbed 1.8% in July to 72.7, marking a second straight monthly gain after spring declines and signaling firmer confidence in household finances.
A 1.4% annual increase in non-farm payrolls added 25,200 jobs, while July unemployment held at 3.6%—below the U.S. rate of 4.1%—supporting the more upbeat mood.
Utah’s one-year financial outlook index jumped to 111 from 102 in June, which Zions Bank said suggests residents are growing more optimistic as earlier economic shocks fade.
Gasoline remains a drag: Utah regular gas averaged $4.37 a gallon Friday, more than $1 above a year ago and above the national average of $4.11.
Even with July’s improvement, sentiment still trails year-ago levels, down 7.2% in Utah and 10.5% nationally, indicating confidence has recovered only part of its earlier slide.