Economic growth in Utah, Colorado and Wyoming declined slightly for the second straight month, according to an economic report published by Creighton University. On another front, inflation eased to its lowest wholesale level since December 2003 because of declining oil prices, leading Creighton economist Ernie Goss to predict no more short-term interest-rate increases for the rest of the year.

"At this time, I expect the next move by the Fed will be to lower rates sometime in the first half of 2007," Goss said in a statement accompanying the October economic report.

Goss is director of the Creighton Economic Forecasting Group, which conducts monthly surveys of regional supply managers and business leaders to produce a Business Conditions Index for the Mountain States region. The index ranges from zero to 100, and numbers greater than 50 indicate economic growth in the months ahead.

Utah's index for October was 65.6, compared with September's 66.5. Colorado plummeted to 53.8 from 65.8 in September. And Wyoming, where the mining and natural resources industry continues to expand, had an index of 81.4 compared to 83.8 in September.

In Utah, producers of durable and nondurable goods reported increased business activity for the month, Goss said, and commercial construction remains strong.

"Utah's economy continues to expand at rates not experienced since the go-go 1990s," Goss said.

- Linda Fantin