Bank of Utah hosted the Utah Valley Annual Economic Forecast Event in partnership with the Utah Valley Chamber of Commerce on April 17th at Thanksgiving Point in Lehi.
Dejan Eskic, a Senior Research Fellow at the Kem C. Gardner Policy Institute, spoke to a packed room of business leaders about the economic outlook for Utah and nationwide.
Utah’s Resilience and Growth
In his presentation, Eskic highlighted the uncertainty due to potential tariffs and federal government employment cuts. While some forecasters have increased the probability of a possible recession, Utah’s economy is one of the strongest in the nation and should weather any future financial storms better than most states. Utah's unemployment rate remains low, and the 2034 Winter Olympics in Salt Lake City should help maintain positive economic momentum for jobs.
Housing affordability is a significant challenge to Utah’s economic future. Prices have dropped 5% from their peak, but homes are still unaffordable for many residents. Overall, Utah’s population continues to grow year over year, driving the economic engine and producing positive results for the state.
Before earning a master’s degree in Real Estate Development, Eskic earned a bachelor’s degree in Urban Planning, both from the University of Utah. He also serves as an adjunct professor of Real Estate Market Analysis at the University of Utah.
Watch The Economic Forecast
If you missed the event, don’t worry—you can still catch up by watching the recording of Eskic’s presentation below and downloading his slides here.
