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   June 2008

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Table 1 Arizona Business Conditions Index

2004	January	65.8
	February	64.4
	March	60.7
	April	64.0
	May	64.8
	June	65.7
	July	65.3
	August	61.1
	September	65.3
	October	61.1
	November	61.6
	December	63.0
2005	January	63.9
	February	64.6
	March	68.5
	April	64.2
	May	63.0
	June	66.3
	July	62.7
	August	62.3
	September	62.3
	October	66.0
	November	65.2
	December	68.7
2006	January	62.2
	February	59.6
	March	62.1
	April	64.4
	May	59.0
	June	53.4
	July	53.8
	August	59.9
	September	59.7
	October	59.0
	November	61.2
	December	55.2
2007	January	54.3
	February	58.3
	March	55.4
	April	58.5
	May	57.9
	June	57.0
	July	62.8
	August	57.3
	September	54.8
	October	49.2
	November	52.2
	December	48.2
2008	January	48.2
	February	46.3
	March	49.3
	April	52.2
	May	48.3
	June	46.7

Table 2 This Month's Survey Results

	Percent of Responses
	Higher	Same	Lower
Prices	67	29	4
Delivery Time	32	62	6
Materials Inventory	11	46	43
New Orders	24	39	37
Production	26	35	39
Employment	21	52	27

Table 3 Arizona Index Components and Price Index

	Jun	May	Apr	Mar	Feb	Jan
Overall Index	46.7	48.3	52.2	49.3	46.3	48.2
Delivery Times	66.1	46.8	55.3	56.7	51.5	52.2
Materials Inventory	34.7	41.6	44.3	42.1	41.2	38.8
New Orders	43.4	47.7	54.5	46.2	48.2	51.7
Production	42.3	56.2	55.6	51.3	44.3	53.7
Employment	46.8	49.2	51.4	50.0	46.3	44.8
Price Index	77.9	83.0	77.6	78.2	69.1	67.3