![]() ![]() The slower spending is concentrated in three areas - e-commerce, electronics and food at home - which have experienced higher-than-average expected spending over the past six months. “The slower spending growth suggests some concern and increased uncertainty about economic growth in the future,” wrote report authors Mac Gaulin, Nathan Seegert and Mu-Jeung Yang of the David Eccles School of Business at the University of Utah. Meanwhile, the 1,000 businesses surveyed reported a decrease in inflation and a potential “skill gap” in the workforce. However, that is down from the 6 percent spending increase respondents reported in June. The 500 households in Utah that were surveyed in August stated that they will spend around 2 percent more in the next three months versus the same period in 2019. August proved to be a slower month for economic growth in Utah, according to new data from the Eccles Economic and Business Surveys.
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