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Utah Consumer Attitude Hitting High Marks in May

The Cicero Group
Comparison of Utahns' Consumer Attitude Index in relation to the national Consumer Confidence Index®. "

The Zions Bank Utah Consumer Attitude Index increased 5.8 points to 111.4 in May showing Utahns’ overall confidence in the economy reaching all-time highs.

The index is compiled by The Cicero Group for Zions. Randy Shumway is the CEO of the Cicero Group and Economic Advisor to Zions Bank. He says three factors are the foundation of Utahns’ confidence right now. First, Utah has the fastest growing economy in the nation. Second, Shumway says, we’re also the 4th most diversified economy in the U.S.

“Third, is that Utah is one of the best places to live for economy mobility. Meaning,” says Shumway, “you have a higher likelihood, if you’re born in the Wasatch Front in the bottom 20 percentile, to make it to the top 20 percentile during your life.” 

Shumway says they found sentiment about the present situation and expectations for the next six months both improved from April to May. He says the CAI currently sits 15.2 points higher than its level twelve months ago. 

The comparable national Consumer Confidence Index® increased 1.1 points from April to May and is currently at 95.4 points.

Bob Nelson is a graduate of the University of Utah with a BA in mass communications. He began his radio career at KUER in 1978 when it was still in Kingsbury Hall. That’s also where he met his wife, Maria Shilaos, in 1981. Bob left KUER for commercial radio where he worked for 25 years, and he is thrilled to be back at KUER. Bob and his family are part of an explorer group, fondly known as The Hordes and Masses, which has been seeking out ghost towns and little-known places in Utah for more than twenty years.
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