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UTAH |
REGION |
UNITED STATES |
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| 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 | 2,700,000 | 2,615,000 | 2,780,000 | x | x | 30,162,100 | 298,755,000 | 304,294,000 | Bureau of the Census & the Utah Population Estimates Committee |
| POPULATION ANNUAL % CHANGE |
ANNUALLY |
2007 | 3.2% | 2.7% | 3.0% | x | x | 1.0% | 1.0% | 0.9% | Bureau of the Census & the Utah Population Estimates Committee |
| NET MIGRATION |
ANNUALLY |
2007 | 44,000 | 29,000 | 39,000 | x | x | 1,038,000 | 1,090,000 | x | Bureau of the Census & the Utah Population Estimates Committee |
| MEDIAN AGE |
ANNUALLY |
2007 | 28.5 | 28.2 | 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% | 1.3% | 0.4% | 0.6% | 0.9% | 0.0% | 0.1% | 0.1% | Bureau of Labor Statistics & Department of Workforce Services |
| UNEMPLOYMENT RATE |
MONTHLY |
2008M5 | 3.2% | 3.2% | 3.7% | 4.2% | 3.9% | 5.7% | 5.2% | 5.2% | Bureau of Labor Statistics & Department of Workforce Services |
| AVERAGE ANNUAL PAY ANNUAL % CHANGE |
ANNUALLY |
2007 | 5.5% | 5.4% | 3.5% | x | x | 4.6% | 4.6% | 4.0% | Bureau of Labor Statistics & Department of Workforce Services |
| MEDIAN HOUSEHOLD INCOME |
ANNUALLY |
2006 | $52,608 | $54,813 | x | $49,264 | $46,607 | $48,201 | $46,326 | x | Bureau of the Census, Current Population Survey |
| PERSONAL INCOME ANNUAL % CHANGE |
QUARTERLY |
2008Q1 | 6.6% | 8.0% | 4.9% | 5.5% | 6.9% | 4.8% | 6.1% | 4.6% | Bureau of Economic Analysis |
Consumption & Production |
| INFLATION (CPI) ANNUAL % CHANGE |
MONTHLY |
2008M5 | 4.7% | 3.8% | x | 4.9% | 3.7% | 4.9% | 4.1% | 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 | 83.7% | 48.2% | 9.8% | 14.7% | 11.4% | 17.4% | 14.3% | 7.7% | Bureau of the Census, Foreign Trade Division |
| AVERAGE STANDARD UNLEADED GAS $ PER GALLON |
WEEKLY |
2008W25 | $4 | $4 | x | x | x | $4 | $4 | x | Oil Price Information Service |
| AVERAGE WEST TEXAS INTERMEDIATE CRUDE $ PER BARREL |
WEEKLY |
2008W25 | x | x | x | x | x | $140 | $142 | $119 | Wall Street Journal |
| RETAIL SALES ANNUAL % CHANGE |
QUARTERLY |
2008Q1 | 6.9% | 10.1% | 2.2% | 4.7% | 6.9% | 3.0% | 4.7% | 2.1% | U.S. Census Bureau & Moody's Economy.com |
State Revenue Collections |
| STATE PERSONAL INCOME TAX COLLECTIONS ANNUAL % CHA |
FYTD |
2008M11 | 1.7% | 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 | -33% | -34.8% | x | -21.5% | -24.1% | -21.2% | -20.7% | x | National Association of Realtors & Moody's Economy.com |
| MEDIAN EXISTING HOME PRICE |
QUARTERLY |
2008Q1 | $199,710 | $199,540 | x | $207,950 | $217,600 | $201,070 | $209,490 | x | National Association of Realtors & Moody's Economy.com |
| DWELLING UNIT PERMIT ANNUAL % CHANGE |
MONTHLY |
2008M5 | 55.1% | -54.8% | x | -43.5% | -45.1% | -35.3% | -34.8% | x | University of Utah Bureau of Business & Economic Research & Census Bureau |
| NONRESIDENTIAL INVESTMENT ANNUAL % CHANGE |
MONTHLY |
2008M4 | 6.6% | 7.8% | x | x | x | 14.5% | 15.6% | 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. |
