From Deseret News archives:
Utah economy on a roll
Business index indicates healthy growth into final quarter of year
The Mountain States Business Conditions Index spiked to 75 in July, up from June's 65.4. The report, prepared by Creighton University in Omaha, Neb., is based on a monthly survey of local supply managers and business leaders in Utah, Wyoming and Colorado.
Utah's reading rose sharply to 80.6 from 68.3 in June and 61.6 in May, and set the pace for the three-state region. Colorado's index was 72.5 in July, up from 64.1 in June, while Wyoming's reading increased to 71.7 from June's 63.3.
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.
Ernie Goss, economics professor at Creighton, said he expects slower jobs growth in the latter part of 2006, as higher interest rates take their toll.
Even so, Goss wrote in the report, "the region will experience job growth significantly above the national average for the remainder of the year." He pointed to the residential and non-residential construction sectors in particular as areas that will see continued growth.
The ISM's nationwide report, also released Tuesday, registered 54.7 in July, above the 53.8 reading reported in June.
"When you view the overall economy, manufacturing is holding up quite well," said ISM survey committee chairman Norbert J. Ore.
"Growth is slowing, but the rate of decline is not very rapid," Ore added, noting the average index for the first half of the year is 55.3, and July's 54.7 reading is only slightly below that. "I certainly feel pretty good about the third quarter at this point, and momentum carrying into fourth quarter."
Contributing: Associated Press
E-mail: jnii@desnews.com
Comments
- Jazz: Miles, Kirilenko to play Friday 4:23 a.m.
- Utah Jazz going green with unis 4:17 a.m.
- Celtics stop Spurs 4:15 a.m.
- Utah Jazz gameday 4:14 a.m.
- Harpring's NBA career is over 4:11 a.m.
- Past Mr. Football winners 4:09 a.m.
- Mr. Football 2009: Tuni Kanuch 4:08 a.m.
- Westminster campus briefs 2:50 a.m.
- UVU campus briefs 2:48 a.m.
- SUU campus briefs 2:47 a.m.
- Hate not limited to 1 in-state rivalry
- Mr. Football 2009: Tuni Kanuch
- Mitchell said to share LeBaron traits
- Aggies shoot past Cougars
- Phoenix signs off on LDS temple
- Toddler dies trapped under mattress
- BYU prof a 'Top Global Thinker'
- Harpring's NBA career is over
- Crews to seal Nutty Putty Cave
- Doctor deems Mitchell competent
- Hall reprimanded by MWC
406 - Max Hall issues apology
393 - Hall's pain reflects self-betrayal
361 - Why is Y. ignoring spew of hatred?
287 - Utes won't respond to Hall
278 - BYU says Hall incident resolved
247 - Letters: Liberal because LDS
217 - 2 citations issued at Y.-U. game
188 - Aggies shoot past Cougars
175 - Hate not limited to 1 in-state rivalry
159
University of Phoenix Utah is collecting "oft-forgotten gifts" like...
First, a big thank you to all who posted questions here for me to ask...
I laughed at the names that were given to the snakes, such clever names. I...
I used you to really hope you were always kidding with your political posts....
RE: Anon @ 5:47 There is a BIG difference between freedom of and freedom...
The only ones that are disturbed are the liberal media that hates guns so bad...
Matt it has been awesome to have you here as a player and role model. I hope...
I'm a USU grad, and saw a great shirt about US not you! "DEE GLEN SMITH...
Hey look, Jazz Cop and CL are agreeing with each other on back-to-back...
Hey, the papers are going bankrupt because of their inability to adjust their...
Matt, you will be truly missed. Thanks for showing us what playing with real...
Good job to all the ladies this season. Hard work and determination has it's...


You can be the first to comment on this story.