Manufacturing & Trade - US Sales and Utah Employment

Sales in the manufacturing, wholesale, and retail industries tend move in conjunction with the business cycle making this an important coincident indicator of economic health (the blue line below). The series is inflation-adjusted to represent real total spending. Unfortunately, these data are not available at the state level leaving us to look for the next best proxy for Utah which is the sum of employment across the same group of industries (red line below).

 

 

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