Utah's Index of Leading Economic Indicators rose 0.2 percent in April after a 1.8 percent gain in March, reports First Security Bank, which compiles the monthly report.
The increase in April was the sixth in the past seven months, said First Security Corp. economist Kelly K. Matthews, noting that the trend suggests solid business growth in Utah in the second half of the year.Non-farm job placements, the consumer loan delinquency rate and manufacturing workweek figures all boosted the April index, said Matthews.
For April the index was up 69.1 percent since 1978 when First Security began charting it. Matthews said the annual growth momentum, which measures the year-to-year percentage change, was 6.7 percent in April, down from 7.2 percent in March, but still the second highest month in the past four years.
By comparison, the national Index of Leading Economic Indicators April growth momentum was 4.9 percent.