| OCR Text |
Show INCOME UP IN UTAH FOR MST HALF Personal income in Utah for the first half of 1962 is estimated at over $ billion, an II percent increase in-crease over 1 96 1 first half, and personal income for the second half of 1962 should continue well a-bove a-bove 1961 figures. However, the outlook ia overshadowed somewhat some-what by "slowness in basic physical production industries." That picture of Utah's current economy is presented in First Security Se-curity Bank's Newsletter which will be distributed this week, it was announced an-nounced this week by Rodney O. Chapman, manager, First Security Bank in West Jordan. The Newsletter News-letter is edited by EIRoy Nelson, vice president and economist, First Security Corporation, parent organization orga-nization of First Security Bank system. "The missiles and eleictronic industries in-dustries in Utah continue to increase in-crease in relative importance," the Letter report. "Employment in these segments now exceeds 1 6,000 or some 33 percent over year ago levels.". First Security notes that anticipated antici-pated cash receipts from Utah agriculture ag-riculture are somewhat above the total of $ 1 64 million reported in 1961. Metal production in the state for the first half is generally below last year's totals. "Department store sales in Utah cities were reported 8 to 12 percent per-cent ahead of last year's totals," First Security says. New car sales are up 30 percent. Total building permit value was 15.7 percent a-head a-head of last year's. 'Bank loans, totaling $533 million mil-lion at the end of May, were 11.7 percent above" 1 96 1 totals. Demand deposits are the same as a year ago but bank time and savings deposits have increased 11.7 percent from a year ago. |
