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Business & Economy

Election Buffering Overall Positive Utah Consumer Attitude Index

Zions Bank, Cirero Group

Utahns’ Consumer Attitude Index is in its third straight month above the 110 mark according to the latest survey by the Cicero Group for Zions Bank.

At 113.2 for September, the overall CAI is 3.2 points higher than its level 12 months ago. Randy Shumway is the CEO of Cicero, which does the survey for Zions. He says unfortunately the current political climate is causing the expectations index to slump compared to the current index.

“And creating such a partisan divide, that I don’t think we’ll see a real continued upswing in confidence until after the presidential election.”

Shumway says housing values continue to climb as do wages. But he says it’s still somewhat remarkable that there was a 3 percent increase in the number of people who believe their 401K and other personal retirement savings will be more valuable a year from now.

“So I think people are feeling like maybe the stock market will improve once the presidential election is over and things politically have stabilized in D.C.”

The survey shows satisfaction with federal government actions to improve the overall economy of the U.S. increased. 15 percent of Utahns indicate belief that the federal government is doing a good job compared to 12 percent last month.

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