Utah: Moderate Growth Projected for 2026

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The Kem Gardner Policy Institute at the University of Utah released its 2026 Economic Report to the Governor yesterday. The 232 page report is quite comprehensive and addresses almost every aspect of the state’s economy. It projects continued moderate growth for the state, with Utah’s real GDP forecast to increase 2.9% in 2026 and 2.5% in 2027, compared to an estimated 2.8% in 2025. Employment is projected to increase 1.5% in 2026, with a significant portion coming from the health and education sectors. Population growth is forecast at 1.3% in 2026, with net migration, which has fallen in recent years, continuing to be a modest contributor. Finally, the report forecasts increases in both oil and coal production, despite a projected decline in the per barrel price of oil. It should be noted however, that the report does project increases in coal prices over the next two years. 


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