From Deseret News archives:
Business in Utah is booming
The business conditions index for Utah's manufacturing sector climbed to 61.6 from April's healthy 59.4, according to a report from Creighton University in Omaha, Neb. The Creighton study is based on a monthly survey of local supply managers and business leaders.
The index ranges from zero to 100, with a figure over 50 indicating an expansionary economy over the next three to six months. It uses the same methodology as a national survey conducted by the Institute for Supply Management, a private research group that surveys purchasing and supply executives in more than 350 industrial companies nationwide.
"Utah is recording some of the strongest growth in the nation, with unemployment dipping to its lowest level since 2000," Ernie Goss, Creighton economics professor, wrote in the regional report. "Even the state's information industry recorded strong growth for May."
Weaker results for the month were reported by the state's non-durable goods manufacturers, including food processors, Goss said.
Norbert J. Ore, chairman of the ISM's survey committee, said the slower manufacturing growth reflected "a significant loss of momentum in the last four months as the new orders index has slipped."
Rising prices, driven by increases in raw materials, remain a concern, Ore said. The price index soared to 77 in May from 71.5 in April, for the highest reading since the price index hit 78 last September.
Ore said it appeared to be reflecting the volatility in energy prices. He added: "I also think we're at the point in the cycle where commodity prices are holding up . . . copper, steel, chemicals . . . so there are a number of basic commodity industries where sellers have significant pricing power."
The ISM index measuring new orders was 53.7 in May, down from 57.6 in April and off significantly from the 61.9 reading of February. The production index weakened to 57.2 in May from 60.4 the previous month, while the inventories index fell to 48 in May from 51.3 in April.
David Huether, chief economist with the National Association of Manufacturers in Washington, D.C., said the softening of the overall index and weakening of the production gauge were consistent with forecasts of slower economic growth.
Comments
- Workers prepare for 2010 Census 2:37 p.m.
- Man sentenced in W. Jordan homicide 2:31 p.m.
- In football, Horns are cash cow 2:26 p.m.
- Tips for beating holiday blues 2:26 p.m.
- The buzz on table saws 2:25 p.m.
- Crosby nets hat trick 2:24 p.m.
- Gift ideas for your favorite foodie 2:23 p.m.
- Small plane crashes near Lehi 2:20 p.m.
- Son's mother calls on my time 2:20 p.m.
- The joys of sleep deprivation 2:19 p.m.
- Hot Rod behind mic for Lakers
- Cougars use depth to beat ASU
- Snow brings big chill
- Non-BCS schools not given fair shot
- Max Hall wants to look ahead
- Expert calls Mitchell delusional
- Panel passes BCS playoff bill
- Jazz go up against 'the best'
- Many seek to wipe clean misdeeds
- Haws playing like a veteran
- Y. profs: Beck not all-knowing
285 - Letters: Global warming a lie
224 - TCU to play Boise in Fiesta Bowl
206 - BYU football: Bronco weighs in on Hall
175 - Cougars going back to Vegas
150 - Utah/BYU rivalry can be more civil
145 - Andersen apologizes for Jordan hoax
128 - George lost in rivalry hatefest
120 - Ed Smart 'appalled' at testimony
100 - Revive full food tax?
98
You can help the homeless and see Santa in one stop Wednesday, Dec. 9,...
When I get cancer I'll just die queitly to save the country money. I don't...
I love the Utes and Cougars. I have a RED Diploma and I am very proud to be a...
Gentlemen Broncos was so inappropriate, my entire party and I walked out of...
to get a Michigan team this mediocre...and U will still lose...watch out for...
As Paul said about Jesus(God)..."the glorious appearing of our great great...
Every major sport has a playoff. College football should and everyone knows...
is not goliath. They are that cute Didney character whose nose grows when...
This is a lot of hooey about nothing except money. AS a driver I've seen this...
BCS, a broken system that needs to be fixed.
The picture of the collision they linked to is spectacular! They obviously...



You can be the first to comment on this story.