Roadmap to Prosperity Dashboard

The Salt Lake Chamber, in partnership with the University of Utah’s Kem C. Gardner Policy Institute, releases the Roadmap to Prosperity Economic Dashboard to inform business leaders’ understanding of Utah’s economy. This tool prioritizes key data on the state’s economic outlook and actionable context for decision-makers.

The Dashboard is updated monthly, providing essential insights, tracking timely and leading measures, and sharing pertinent indicators. This provides leaders with critical and timely information to make informed decisions. 

First Dashboard released: September 2020.

“Utah’s economic resilience is evident as inflation moderates and consumer sentiment reaches its highest level in over two years. While home prices show stability amid ongoing interest rate uncertainty, the broader trends suggest cautious optimism as households and businesses adapt to evolving conditions.”

Derek Miller, President & CEO, Salt Lake Chamber

“Utah’s economy demonstrates strength, with key indicators like consumer sentiment showing positive momentum. As the economy moves from election uncertainty to policy uncertainty, trade policy, labor shortages, and what appears to be a frothy stock market will likely create headwinds as we begin the new year.”

Natalie Gochnour, University of Utah's Kem C. Gardner Policy Institute

Three Essential Insights from the November 2024 Dashboard

Inflation ticked up slightly but remains below elevated levels seen earlier this year.

As inflation nears the 2% target rate, some stickiness persists. However, ongoing moderation in price growth and overall economic resilience bolster confidence in a soft landing despite persistent challenges in certain sectors.

Median home sales price in Utah rebounded to a five-month high in October.

Utah’s median home sales price fell slightly through the summer but rose in Oct. remaining essentially unchanged relative to early summer months. Stability in prices highlights the hesitation of buyers and sellers amid ongoing interest rate uncertainty.

Utah’s consumer sentiment reaches its highest level since June 2021.

A 9.1% month-over increase in Utah’s consumer sentiment further expanded the gap between Utah and U.S. sentiment, with U.S. consumer sentiment rising just 1.8% month-over. This uptick reflects optimism in economic and household financial conditions.