| |
|
|
UTAH |
REGION |
UNITED STATES |
|
|
|
|
|
| ECONOMIC INDICATOR |
FREQUENCY |
FOR |
CURRENT PERIOD |
PRIOR PERIOD |
2008 FORECAST |
CURRENT PERIOD |
PRIOR PERIOD |
CURRENT PERIOD |
PRIOR PERIOD |
2008 FORECAST |
SOURCE |
| Demographics |
|---|
| TOTAL POPULATION |
ANNUALLY |
2007 | 2,758,000 | 2,700,000 | 2,780,000 | x | x | 304,060,000 | 301,290,000 | 304,294,000 | Bureau of the Census & the Utah Population Estimates Committee |
| POPULATION ANNUAL % CHANGE |
ANNUALLY |
2007 | 2.2% | 3.2% | 3.0% | x | x | 0.9% | 1.0% | 0.9% | Bureau of the Census & the Utah Population Estimates Committee |
| NET MIGRATION |
ANNUALLY |
2007 | 17,000 | 44,000 | 39,000 | x | x | 889,000 | 866,000 | x | Bureau of the Census & the Utah Population Estimates Committee |
| MEDIAN AGE |
ANNUALLY |
2007 | 28.5 | 28.5 | x | x | x | 36.6 | 36.4 | x | Bureau of the Census & the Utah Population Estimates Committee |
Income & Employment |
| EMPLOYMENT ANNUAL % CHANGE |
MONTHLY |
2008M5 | -0.9% | -0.4% | 0.4% | -1.2% | -0.7% | -1.4% | -0.9% | 0.1% | Bureau of Labor Statistics & Department of Workforce Services |
| UNEMPLOYMENT RATE |
MONTHLY |
2008M5 | 3.7% | 3.5% | 3.7% | 5.6% | 5.3% | 6.5% | 6.1% | 5.2% | Bureau of Labor Statistics & Department of Workforce Services |
| AVERAGE ANNUAL PAY ANNUAL % CHANGE |
ANNUALLY |
2007 | 5.6% | 5.4% | 3.5% | x | x | 4.5% | 4.6% | 4.0% | Bureau of Labor Statistics & Department of Workforce Services |
| MEDIAN HOUSEHOLD INCOME |
ANNUALLY |
2006 | $53,529 | $54,628 | x | $51,604 | $49,264 | $50,233 | $48,201 | x | Bureau of the Census, Current Population Survey |
| PERSONAL INCOME ANNUAL % CHANGE |
QUARTERLY |
2008Q1 | 3.2% | 4.7% | 4.9% | 3.6% | 5.2% | 3.7% | 5.0% | 4.6% | Bureau of Economic Analysis |
Consumption & Production |
| INFLATION (CPI) ANNUAL % CHANGE |
MONTHLY |
2008M5 | 0.7% | 3.1% | x | 1.0% | 3.4% | 1.0% | 3.7% | 4.8% | Bureau of Labor Statistics & Moody's Economy.com |
| REAL GDP ANNUAL % CHANGE |
ANNUALLY |
2007 | 5.3% | 6.3% | x | 2.9% | 3.9% | 2.0% | 3.1% | 1.4% | Bureau of Economic Analysis |
| EXPORTS ANNUAL % CHANGE |
QUARTERLY |
2008Q1 | 33.0% | 42.9% | 9.8% | 18.8% | 12.9% | 17.3% | 18.9% | 7.7% | Bureau of the Census, Foreign Trade Division |
| AVERAGE STANDARD UNLEADED GAS $ PER GALLON |
WEEKLY |
2008W25 | $1 | $2 | x | x | x | $2 | $2 | x | Oil Price Information Service |
| AVERAGE WEST TEXAS INTERMEDIATE CRUDE $ PER BARREL |
WEEKLY |
2008W25 | x | x | x | x | x | $40 | $45 | $119 | Wall Street Journal |
| RETAIL SALES ANNUAL % CHANGE |
QUARTERLY |
2008Q1 | 2.8% | 5.7% | 2.2% | 1.6% | 3.9% | 0.6% | 2.6% | 2.1% | U.S. Census Bureau & Moody's Economy.com |
State Revenue Collections |
| STATE PERSONAL INCOME TAX COLLECTIONS ANNUAL % CHA |
FYTD |
2008M11 | -15.9% | 4.9% | 5.4% | x | x | x | x | x | Utah Tax Commission |
| STATE CORPORATE TAX COLLECTIONS ANNUAL % CHANGE |
FYTD |
2008M11 | -5.1% | -1.2% | -10.7% | x | x | x | x | x | Utah Tax Commission |
| STATE SALES TAX COLLECTIONS ANNUAL % CHANGE |
FYTD |
2008M11 | -4.1% | -3.9% | -3.4% | x | x | x | x | x | Utah Tax Commission |
Housing & Construction |
| EXISTING HOME SALES ANNUAL % CHANGE |
QUARTERLY |
2008Q1 | -18.3% | -26.9% | x | 12.4% | -11.5% | -6.2% | -15.2% | x | National Association of Realtors & Moody's Economy.com |
| MEDIAN EXISTING HOME PRICE |
QUARTERLY |
2008Q1 | $186 | $195,240 | x | $186,850 | $197,230 | $185,710 | $192,850 | x | National Association of Realtors & Moody's Economy.com |
| DWELLING UNIT PERMIT ANNUAL % CHANGE |
MONTHLY |
2008M5 | x | x | x | -47.0% | -44.2% | -37.8% | -34.8% | x | University of Utah Bureau of Business & Economic Research & Census Bureau |
| NONRESIDENTIAL INVESTMENT ANNUAL % CHANGE |
MONTHLY |
2008M4 | x | x | x | x | x | 10.6% | 11.4% | x | University of Utah Bureau of Business & Economic Research & Census Bureau |
Notes | | Forecasts are provided by the Revenue Assumptions Committee |
| Region = Census Mountain Division (AZ, CO, ID, MT, NM, NV, UT, & WY) for all indicators except GDP (BEA Rocky Mountain Division = CO, ID, MT, UT, & WY) and Inflation (Census Western Region = AZ, CA, CO, ID, MT, NM, NV, OR, UT, WA, & WY) |
| x = data are unavailable or not applicable |
| Value for previous period is for time period immediately before the currently reported period; e.g. Utah's personal income growth was 7.4% between the 4th quarters of 2006 and 2007 and 8.8% between the 3rd quarters of 2006 and 2007. |
| There is no Consumer Price Index for Utah, the Salt Lake Metropolitan Statistical Area CPI is used as a proxy. |
| Utah's Q4 2007 & Q1 2008 growth rates for exports are anomalies to abnormally large shipments of gold. |
| Forecast for Utah is for growth in taxable retail sales. |
| Inludes corporate franchise & income taxes, radioactive wast, and gross receipts taxes. |
| Non-earmarked sales & use taxes. |
| Utah nonresidential investment is total permit valuation for nonresidential construction and nonresidential alterations and repairs. |
