For the 23rd consecutive month, the overall economic indicator index for the Mountain States region of Colorado, Wyoming and Utah has shown positive growth, according to the Goss Institute.

The overall Business Conditions Index is an average of indices for new business orders, production or sales, employment, inventories and delivery lead time with positive growth considered to be an index above 50.0, which is considered growth-neutral.

For the three-state region, the BCI advanced to 57.8 in September from 56.8 in August.

"National data indicate that the U.S. economy is teetering on an economic recession," said Ernie Goss, director of the Goss Institute for Economic Research. "On the other hand, the Mountain States region continues to expand with little evidence of an impending recession. Businesses with close ties to agriculture and energy continue to expand and add jobs at a healthy pace."

In Colorado, the Business Conditions Index dipped slightly in September from 51.9 from 53.8 in August. "Manufacturing employment has expanded at a solid pace over the past year," Goss said. "Likewise, firms have increased the hours worked for current employees. Our surveys point to continued economic expansion in the state for the rest of 2011."