SALT LAKE CITY, Utah (KUTV) — Zions Bank released its October snapshot, addressing multiple economic trends in Utah.
Overall, Utah’s economy is showing strength compared to other states, according to Zions Bank Senior Economist Robert Spendlove.
The report states that since the pandemic, Utah’s labor market has outperformed the nation. It also said that interest rates have shown signs of easing after the Federal Reserve lowered rates in an effort to balance risk of recession and inflation.
The snapshot also addresses tariffs, claiming they are playing a big role in the economic state of the nation and here in Utah. There have been recent increases in inflation which according to the report might only be the beginning of tariffs’ economic impacts.
Lastly, there has been a reported uptick in unemployment, which could signal a higher likelihood of recession.
For more information, see the full report below:
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