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Show Economic view good The view of Utah's economy by its business executives made a resurgence res-urgence to pre-war levels during the second quarter of 1991, the State Tax Commission said. Those sentiments are reflected in the Utah Business Conditions Survey, which is conducted quarterly by the University of Utah Research Center on behalf of the Tax Commission. The index for large businesses, which had been sliding since it peaked at 63 in the first quarter of 1990, fell to 46 in the December 1990 survey, improved im-proved to 53 in January 1991, and continued to progress to 59 during April 1991. Confidence among executives of moderate-sized businesses rebounded from 45 in the fourth quarter of 1990, to 52 in the first quarter of 1991 and to 59, in the second quarter. A score of 50 reflects a feeling that the economy is about the same, while a score of 75 would mean the executives view the economy as moderately better. Current conditions within four of the six major industry groups produced more favorable responses in the second quarter 1991 survey compared to the first In fact, all of these groups saw five point or greater improvements in scores. 'Business services' improved the most, growing from 48.8 to 58.3. However, 'business equipment dealer' confidence in current conditions has been steadily eroding since the second quarter of 1990, falling gradually grad-ually from 54.8 to 41.8 in the second quarter of 1991. Transportation, communication and utilities sector responses all fell slightly. Increased optimism was voiced by business managers regarding the future of Utah's economy. Following Iraq's invasion of Kuwait, Utah business busi-ness leaders had expected the state's economy to moderately worsen over the next six months. By April 1991, they felt the Utah economy would be moderately better with a score of 65.2. Another response that improved markedly was the outlook on profits. During the fourth quarter of 1990, the expected profits score was stagnating at 50.4. In April 1991, the outlook for profits improved to somewhat better with a reading of 61.3. The Business Confidence Survey has been performed quarterly since the second quarter of 1989. Tax Commission economists expect to use the results in spotting turning points in sales and corporate income tax projections. |