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SALT LAKE CITY (AP) -- Business activity continues to grow in Utah, with increases in new orders, production activity, delivery lead times, inventory levels and job growth, said Creighton University economics professor Ernie Goss.
Utah's performance is outshining the region and the nation as a whole.
The university's Mountain States Business Conditions Index released Monday for Utah, Wyoming and Colorado dipped to 65.4 in June from 65.8 the month before. However, for Utah alone in improved to 68.3 from 61.6.
"Upturns in economic activity were reported for almost all sectors of the Utah economy," Goss said. "Utah food processors were the only industry to report weak conditions for the month."
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 by the Institute for Supply Management, which also released a report on Monday.
The ISM report showed its manufacturing index at 53.8 in June, slightly below the 54.4 reading in May.
Zions Bank also reported on Monday that Utah's economic performance continues to outpace most of the nation, and recent growth "approaches the most impressive ever recorded."
The Utah economy added nearly 52,000 jobs in the latest 12-month period, a growth rate of 4.5 percent.
"Extremely tight Utah labor availability will limit growth over the next 18 months. Even so, we continue to expect Utah to rank among the top 10 states in job growth," economist Jeff Thredgold said.
Goss said Utah employers are expected to add 21,000 jobs in the second half of this year, for an annualized growth rate of 3.5 percent.
(Copyright 2006 by The Associated Press. All Rights Reserved.)
