Colorado business leaders expressed less confidence in the state economy than in previous quarters in the University of Colorado’s most recent poll.
The Leeds Business Confidence Index, conducted by CU’s Leeds School of Business, posted a reading of 48.6, down from last quarter’s 54.8. Business leaders remained optimistic about industry sales, but expectations for profits, employment, capital expenditures and state economic growth were down from last quarter, hovering close to 50.
While business leaders continue to believe Colorado will outperform the country in economic growth, the index pointed to declines in growth expectations for the state and the national economies.
The school surveyed more than 1,000 business leaders across all sectors in Colorado and received 279 responses. An index of 50 is neutral. An index greater than 50 indicates positive expectations, while an index lower than 50 indicates negative expectations.
“These numbers do not suggest that we’re going into a double-dip recession, they’re just saying that the economy, while growing, is below potential,” Leeds School economist Richard Wobbekind said.
