Zions Bank Releases New Monthly Report on Utah’s Economy

Entrepreneurs and community leaders looking for local economic data to inform their decisions have a new resource in Zions Bank’s Economic Snapshot, a report that provides up-to-date data and analysis of Utah’s economy on a monthly basis. 

Various economic health indicators such as employment growth and housing rates are included in the comprehensive report.

Created as a free resource, the two-page Economic Snapshot presents visual data on employment by county and industry; state rank of income, population growth and fertility rate; Home Price Index; Consumer Price Index; Consumer Attitude Index, home interest rates and residential construction activity. Highlights from this month’s Utah report include:

  • Utah ranked No. 1 for employment growth at 4.0 percent for August
  • At 3.7 percent, Utah had one of the lowest unemployment rates in the nation
  • The leisure and hospitality industry experienced the most year-over employment growth in Utah, with a 9.7 percent growth rate adding 12,800 employees to the industry from August 2014 to August 2015
  • The Utah Home Price Index increased by 6 percent from July 2014 to July 2015
  • Zions Bank’s Wasatch Front Consumer Price Index grew at an annual rate of 1.4 percent from August 2014 to August 2015, compared to a national CPI growth rate of 0.2 percent for the same period

Other statewide Economic Snapshots provided by Zions Bank include Idaho and Wyoming as well as a national snapshot to allow for data comparisons. New reports are posted on a monthly basis to Zions Bank’s website at zionsbank.com/economy. The option to subscribe for regular economic updates via email is also available on the website.

“It’s important to have a clear vision of how the economy is performing in all sectors so we can help the public make informed decisions,” said Robert Spendlove, economic and public policy officer for Zions Bank. “The Economic Snapshot was created to be easily accessible to the communities we serve and help them better understand the economic situation.”