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

Business confidence in Colorado is surging, with concerns over inflation and recession easing, according to the Leeds Business Confidence Index from the University of Colorado Boulder. This marks the first positive outlook in 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.

A score above 50 in the index indicates a positive outlook while a score below 50 indicates a negative outlook. 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 the Colorado economy compared to the US economy with a score of 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 a rise in hiring plans from 45.3 in Q1 to 50.1 Q2 & Q3 respectively

By Aiden Johnson

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