• Wed. Apr 17th, 2024

Colorado Business Confidence Surges as Inflation, Recession Concerns Ease

BySamantha Jones

Apr 2, 2024
Colorado’s business confidence sees first positive shift in 2 years

Business confidence in Colorado is on the rise, with concerns over inflation and recession easing, according to a report from the University of Colorado Boulder’s Leeds Business Confidence Index. This marks a significant change from the negative outlook that has persisted for the past two years. Looking ahead to the second and third quarters, 178 panelists surveyed reported positive expectations for the national economy, state economy, industry sales, profits, hiring plans, and capital expenditure.

The overall index increased from 45.3 in the first quarter to 53.7 for the second quarter and 53 for the third. All six categories in the index improved year-over-year and remained in positive territory. Respondents attributed their improved outlook to general economic conditions, politics including the upcoming election, and interest rates.

Colorado business leaders showed more optimism about the outlook for their state’s economy compared to that of the U.S., scoring 54.1 compared to 51 respectively. The highest level of optimism was seen in industry sales with a score of 57.9. Business optimism often leads to increased spending and hiring as indicated by the rise in hiring plans from 45.3 in Q1 to 50.1 in Q2 and Q3.

Inflation remains a concern with consumer prices up 3.5% year-over-year in January in Denver-Aurora-Lakewood area according to U.S Bureau of Labor Statistics but it is expected to stay above 3% this year despite initial forecasts predicting a mild recession due to higher interest rates from Federal Reserve job growth remained strong in Colorado with 72700 jobs added representing growth rate of 2

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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