SALT LAKE CITY (ABC 4 News) - We're starting to see a slow, consistent economic recovery here in Utah. That's according to the Zions Bank Consumer Attitude Index for the month of January.
Utahns feel more confident and more optimistic about the economy than the rest of the country. Because of that, people here in Utah are spending more which makes local businesses happy like the King's English Bookshop in Salt Lake City.
Betsy Burton is the co-owner of the King's English Bookshop. It's been around for about 35 years. Burton saw a major change in consumer attitude over the past few months.
"I feel very hopeful right now," said Burton.
In 2011, her business was up nearly 20% in November and December compared to the year before.
"We are slowly but consistently recovering from this economic recession," said Randy Shumway, CEO of The Cicero Group/Dan Jones & Associates responsible for compiling the Consumer Attitude Index for Zions Bank.
Here's another thing that helps....gas prices. They've been decreasing the past several months and since gas is such a large part of consumer spending, there's been more money in people's pockets. But then there's the fact that more spending, means less savings.
"People are saving a little less," Shumway said. "They're borrowing more and they're spending more."
"I'm probably in the category where I can't give much back," said Mary Barlow of Salt Lake City. "I'm 75 now and retired so there's not much I can do."
In 2011, Utah added 36,000 jobs. As a result, Utah's unemployment rate has fallen from 7.6 percent in January 2011 to 6.0 percent in December 2011.
