Colorado’s economy will continue to expand during the remaining three months of 2011, according to a three- state business survey released Monday by the Goss Institute for Economic Research.
The institute’s Ernie Goss said Colorado’s economy continued to expand in September but at a slower rate than in August.
In Colorado, the overall index for September declined to 51.9 from 53.8 in August. An index value greater than 50 indicates economic expansion, while a value lower than 50 indicates contraction.
“Manufacturing employment has expanded at a solid pace over the year,” said Goss, of Colorado. “Likewise, firms have increased the hours worked for current employees. Our surveys point to continued economic expansion in the state for the rest of 2011.”
In Colorado, components of the index for September were new orders, with an index value of 52.0; production or sales, at 55.3; delivery lead time, at 50.0; inventories, at 45.4; and employment, at 56.8.
The report added that for the 23rd straight month, the overall index for the Mountain States region of Colorado, Wyoming and Utah remained above 50. In September, the three-state overall index advanced to 57.8 from 56.8 in August.
“National data indicate that the U.S. economy is teetering on an economic recession,” Goss said. “On the other hand, the Mountain States region continues to expand with little evidence of an impending recession. Businesses with close ties to agriculture and energy continue to expand and add jobs at a healthy pace.”
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com
