Zions Bank today released its November Economic Snapshot, highlighting the most recent data on labor markets, interest rates, construction activity, and other indicators of business activity.
Trends highlighted in the November Snapshot include:
- The federal government shutdown has led to a data blackout from many statistical agencies, clouding the picture for upcoming monetary policy decisions by the Federal Reserve.
- Interest rates show signs of easing after the Federal Reserve lowered its short-term rate by 25 basis points in September and another 25 basis points in October as it balances the risk of recession and the risk of inflation.
- Utah’s economy ranks first in the nation, according to the Federal Reserve Bank of Philadelphia’s State Coincident Indexes.
“Despite a lack of recent data releases, Utah’s economy appears well positioned from a longer-term perspective given its economic and demographic fundamentals,” according to Zions Bank senior economist Robert Spendlove.
The full snapshot is attached.
