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.”
Derek Miller, Salt Lake Chamber
“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.”
Natalie Gochnour, University of Utah's Kem C. Gardner Policy Institute

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.

Utah’s labor force participation rate continues to rank first nationally.

Utah’s labor force participation rate continues to rank first nationally.

Despite falling for 5 consecutive months, Utah’s labor force participation rate comes in first nationally for the 10th consecutive month. The national labor force participation rate has held relatively stable for several months.

Utah and U.S. consumer sentiment fell slightly in February.

Utah and U.S. consumer sentiment fell slightly in February.

National consumer sentiment decreased 2.7% in February. Utah’s sentiment decreased by 1.3% but continues to exceed U.S. sentiment. However, the gap between U.S. and Utah sentiment has narrowed.