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Supply managers in the state reported contracting conditions in August, reversing a more positive report they gave in July, according to the Colorado Business Conditions Index from Creighton University.
The index registered at 47.5 in August, down from July’s reading of 51.1. An index level above 50 indicates expanding conditions, while one below 50 indicates a contraction.
Goss Institute for Economic Research director Ernie Goss said job declines have slowed the past three months in the state but that he doesn’t expect Colorado’s economy to start expanding until the fourth quarter.
