Q1 2020
Methodology
The Salt Lake Chamber is Utah’s largest and longest-standing business association. A statewide chamber of commerce with members in all 29 Utah counties, the Chamber represents the broad interests of the state’s 63,000-plus employers, which employ more than 1.4 million Utahns. This includes thousands of members and their employees. The Kem C. Gardner Policy Institute at the University of Utah develops and shares economic, demographic and public policy data and research that help individuals and the community make informed decisions. Housed in the David Eccles School of Business, the Institute seeks to be a vital gathering place and center for independent economic, demographic and public policy thought leadership that helps the Utah economy to prosper. The Institute is a strategic partner with the Salt Lake Chamber in serving Utah.
2020
I First Quarter
For More Information Heidi Walker COO, Salt Lake Chamber 801-328-5081, hwalker@slchamber.com Natalie Gochnour Director and Chief Economist, Kem C. Gardner Policy Institute and Salt Lake Chamber 801-585-5618, natalie.gochnour@eccles.utah.edu Marin Christensen Research Associate, Kem C. Gardner Policy Institute 801-581-6521, marin.christensen@utah.edu
CEOutlook
The Salt Lake Chamber partners with the Kem C. Gardner Policy Institute at the University of Utah to design, tabulate and assist in analyzing the survey. Sixty business executives from Utah’s fourteen major industries are asked to respond to 6-8 questions, depending on their responses, about their company and Utah’s economic performance. Respondents are selected by each industry’s contribution to the Utah economy. Panelists come from a range of firm sizes and locations within Utah.
CEOutlook
The Salt Lake Chamber’s CEOutlook Confidence Index decreased slightly from 61.2 in 2019 Q4 to 59.4 for 2020 Q1, as executives report economic conditions holding steady. 4.0% Year-Over Job Growth
3.5% 3.0%
3.0%
3.4%
3.1%
3.0%
3.3%
3.4%
3.2%
3.1%
3.4% 2.9%
3.0%
2.5%
2.5%
2.6%
2.0%
70.0
66.3
62.8
62.0
60.6
62.4
62.3
60.9 55.5
60.0
61.2
60.1 53.2
59.4
53.3
Optimism
80.0
50.0 Concern
The Salt Lake Chamber’s CEOutlook is a statewide economic survey of Utah business executives. Modeled after other national business sentiment surveys, it provides a forward-looking view of the Utah economy. The results of the survey are intended to help business and community leaders make informed decisions about likely future economic conditions. The survey will continue to be evaluated through 2020 to assess its predictive value.
Confidence Index and Job Growth
Confidence Index
About the Salt Lake Chamber’s CEOutlook
40.0 30.0 20.0 10.0 0.0
Q1
Q2
Q3
Q4
Q1
2017
Q2
Q3
2018
Q4
Q1
Q2
Q3
2019
Q4
Q1 2020
The Salt Lake Chamber’s CEOutlook Confidence Index is based on responses to the four standard questions included in each quarter’s survey (Questions 1-4). The Index can range from 0 to 100. A score below 50 indicates executives believe the economy will worsen; a score above 50 indicates a belief among executives that the economy will improve. Source: Index is produced from the Salt Lake Chamber’s CEOutlook with support from the Kem C. Gardner Policy Institute, including analysis of the Utah Bureau of Labor Statistics.
Respondent Industry Make Up • Arts, entertainment, recreation, accommodation, and food services • Construction • Educational services, health care, and social assistance • Finance, insurance, real estate, rental, and leasing • Information
• Manufacturing • Mining • Other services, except government • Professional and business services • Retail Trade • Utilities • Wholesale Trade
First Quarter
I 2020