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

Business Confidence Surges in Colorado as Inflation and Recession Concerns Ease

Business confidence in Colorado is on the rise with concerns over inflation and recession easing, according to a new study. This surge in confidence marks the first positive outlook in two years, as reported by the Leeds Business Confidence Index from the University of Colorado Boulder. 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 own economy, scoring 54.1 compared to a score of 51 for the U.S economy as a whole. 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 the first quarter to 50.1 in both quarters two and three

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