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 strength lies in its resilience – in the face of recent economic pressures, Utahns continue to display perseverance and determination to succeed. While home values remain strong, economic challenges like rising bankruptcies and persistent inflation create uncertainty. As we navigate these headwinds, it will be crucial to support legislative policies and solutions that promote stability and long-term growth.”
Derek Miller, President & CEO, Salt Lake Chamber

“The Utah and U.S. economies appear to be moderating, slowed by continuing inflation, rising home prices and high interest rates. Despite these economic headwinds, Utahns continue to express high consumer sentiment, even amid uncertainty at the national level.”
Natalie Gochnour, University of Utah's Kem C. Gardner Policy Institute

Three Essential Insights from the January 2025 Dashboard

U.S. CPI inflation increased for the fourth consecutive month, with year-over price increases reaching 3% in January.

January’s year-over inflation sets a new eight-month high, reinforcing concerns that price pressures may persist. Month-over inflation in January reached the highest level since August 2023. With uncertainty remaining high, the Federal Reserve faces added risk as it considers future interest rate decisions.

Utah’s median home sales price equaled $500,000 in December, up from $474,000 in December 2023.

While still below the $535,000 monthly peak in May 2022, prices remain high, making it difficult for first-time homebuyers to afford a home. Limited supply continues to keep prices elevated.

Total annual bankruptcy cases filed in Utah increased roughly 13% in 2024.

After falling two consecutive years, total annual bankruptcy cases increased more than 17% in 2023 and another 13% in 2024. Coming off of stimulus years likely contributed to the increase, as well as economic pressures including higher interest rates.