"If there's a concern, it's along the lines of the national economy," Knold said. "It's about the housing bubble bursting in some areas. It's about energy prices getting out of hand. But I don't really anticipate anything happening there, this year. Next year is probably more vulnerable in that respect."

Housing prices in Utah have increased in some areas recently, Knold said, but that doesn't mean the state will be folded into any bubbles.

"It's not cause for alarm, because our prices were dipping below the national average," he said. "Hopefully, it's a move toward the national level. We still have a long way to go to build any kind of bubble in this market.

"There's a small possibility that anything will come about this year. The odds are much higher for a continued strong economy. There's legs under this economy, and it would take something fairly good to knock it off balance. The national legs are a little shakier than Utah's legs."

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E-mail: jnii@desnews.com