The Road to Prosperity Dashboard tracks Utah’s economic outlook. The Dashboard, which is updated monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators.
First Dashboard released: September 2020.
“While national and state consumer sentiment saw a minor downturn, Utah’s consistent performance underscores the state’s economic stability and strength. With insights like the record-breaking retail sales, Utah’s trajectory towards robust economic growth in 2024 is actively underway.”
“The latest data confirm Utah’s resilient economy remains strong, due in part to our top-ranked labor force participation rate and record taxable retail sales at the end of 2023. Concerns over inflation will be top of mind for both consumers and economists in 2024 as the Federal Open Market Committee meets later this month.”
Three Essential Insights from the February 2024 Dashboard
Utah’s taxable retail sales reached a new high in December.
Utah’s taxable retail sales reached a new high in December.
Increased wages and elevated prices continued to bolster taxable retail sales in Utah, which reached $5.25 billion in December. This represents a new high, with the previous record in December 2022 at $5.15 billion.