The Omaha-based university's monthly Business Conditions Index for Utah declined to 56.4 in November from 65.6 in October and 66.5 in September.

But even 56.4 is a healthy number, said Creighton professor Ernie Goss, whose monthly report is based on a survey of corporate purchasing managers. The index ranges from zero to 100; an index number greater than 50 indicates that there will be economic growth in the months ahead, while an index number less than 50 demonstrates economic weakness.

"Rather than indicating weakness, the sharp decline in the overall index just means Utah's economy is moving to a more sustainable long-term growth path," Goss said.

Utah's economy, he said, is still growing and is showing no advance signs of a sharp downturn.

Moderating growth is good news, he said, because Utah's economic growth - particularly in the area of employment gains - has been significantly above the national average for nearly a year now.

And all that economic growth is vexing companies who are trying to hire workers, Goss said.

"With the unemployment rate at its lowest level in more than 10 years, it is not surprising that firms in our survey are reporting unfilled positions due to labor shortages," he said in his report.

For the entire Mountain States region, which includes Utah, Colorado and Wyoming, the Business Conditions Index declined for the third consecutive month to 58.4, from 67.6 in October and from 73.3 in September.