Blog Post

Utah economy expected to continue to prosper in 2016

By: Juliette Tennert, M.S.

Yesterday, the Utah Economic Council released its 28th annual Economic Report to the Governor. The report is a collaborative effort of the Council (who are convened by the David Eccles School of Business, the Salt Lake Chamber, and the Governor’s Office of Management and Budget) and a number of public and private sector experts.

The major theme that runs throughout the report is one of a Utah economy that exceeded expectations in 2015 and has “room to run” in 2016.  Utah led the nation in job growth 2015 with a significant gains in 10 of 11 major sectors, strong job growth and declining unemployment affected better-than-anticipated growth in wages, construction permitting reached an 8-year high, and low motor-fuel prices and increasing consumer confidence underpinned growth in retail sales.