Business leaders and supply managers in Colorado, Utah, and Wyoming reported stronger demand for their products and rising wholesale prices in July, according to the Mountain States Business Conditions Index, released Tuesday by Creighton University.
Production bottlenecks and difficulties in getting raw materials in time, however, have become a growing concern.
The regional business conditions index improved to 75.0 from June’s 65.4. Colorado’s index jumped to 72.5 in July from 64.1 in June.
A score above 50 indicates expanding conditions, while one below 50 indicates contracting conditions.
Most industries reported stronger conditions as they wrestled with higher costs.
“This flies in the face of what these companies are telling us about rising interest rates and oil prices,” said Creighton University economics professor Ernie Goss.
Delivery times to get products to market are lengthening significantly, another confirmation of the economy’s strength, Goss said.
Information-industry firms, including publishing and telecommunication companies, are an exception. They reported weak economic activity for July.
Staff writer Aldo Svaldi can be reached at 303-820-1410 or asvaldi@denverpost.com.
