Utah’s Economy Steady as Consumer Sentiment Bounces Back

August 13, 2023

The Salt Lake Chamber, in partnership with the Kem C. Gardner Policy Institute at the University of Utah, has released its July 2023 Roadmap to Prosperity Economic Dashboard to provide insights to business leaders on Utah’s economy. This tool prioritizes key data on the state’s current economic outlook and actionable context for decision-makers.

“Utah’s economy remains steady despite high interest rates and repeated warnings of an impending recession,” said Derek Miller, president and CEO of the Salt Lake Chamber. “A strong job market and increasing wages continues to fuel consumption and increase consumer sentiment. In addition, the U.S. credit-rating downgrade signals the impact of high interest rates and the country’s long-term fiscal ability to meet obligations. Comparatively, Utah remains one of the highest-rated states for credit and business.”