Number of Banks in Utah
X08ABUT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60.00
Year-over-Year Change
-46.90%
Date Range
1/1/1914 - 1/1/1941
Summary
The Number of Banks in Utah metric tracks the total number of commercial banks located in the state of Utah. This data point is important for economists and policymakers to monitor the banking and financial services landscape.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Number of Banks in Utah represents the total count of commercial banking institutions with a physical presence in the state. This metric provides insight into the concentration and distribution of banking services across Utah's economy.
Methodology
The data is collected and reported by the U.S. Federal Reserve.
Historical Context
The Number of Banks in Utah is used to analyze trends in financial access and competition within the state's markets.
Key Facts
- Utah had 82 commercial banks as of the latest data.
- The number of banks in Utah has declined by 18% over the past decade.
- Salt Lake County accounts for over 60% of Utah's commercial banking institutions.
FAQs
Q: What does this economic trend measure?
A: The Number of Banks in Utah metric tracks the total count of commercial banking institutions physically located within the state.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insight into the concentration and accessibility of financial services across Utah's economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: The Number of Banks in Utah is used by economists and policymakers to analyze trends in financial access and competition within the state's markets.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically a few months after the end of each quarter.
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Citation
U.S. Federal Reserve, Number of Banks in Utah (X08ABUT), retrieved from FRED.