There was a decline in the National Consumer Confidence Index over the last month but Utah Governor Gary Herbert said that this state has many positive things going for it. During his monthly Let Me Speak to the Governor radio broadcast, Herbert said Utah is one of only seven states with a AAA bond rating and is still putting money into a rainy day fund.
“The good news for us is that last week the new report came out. Our economy now in Utah is growing at a 4% annual rate,” Herbert said. “The historic annual rate, so you know on average, is 3.2%. So we’re even growing now better than our historic averages and we’re growing at 2.5% times the national average.
“That bodes well for our future, for our long term economic expansion and paying the bills we already have.”
Herbert said that doesn’t mean there won’t be bumps along the way as Congress fiddles around. He said there could be furloughs at Hill Air Force Base and cuts in defense spending. The governor said what will keep going is never spending more money than the state takes in.