Colorado business leaders’ optimism about the economy waned heading into the third quarter, officials from the University of Colorado’s Leeds School of Business said in a report released this week.
The Business Research Division’s Leeds Business Confidence Index — which measures executives’ confidence in the national economy, state economy, sales, profits, hiring plans and capital expenditures — dropped to a reading of 53.6 for the third quarter from 62.2 in the second quarter.
The main index remained above the neutral mark of 50, meaning that the outlook still is generally positive.
However, survey respondents’ feelings about the national economy soured greatly and dropped below the 50 mark. The national index dropped to 46 from 62.2 after recent economic data released “muted” expectations.
Comparatively, Colorado business leaders were more optimistic about their home state’s economy. The Colorado index fell to 56.6 for the third quarter from 67.1.
Survey respondents said that politics, fear of tightening credit and lower consumer confidence could negatively affect the growth of their respective businesses.
Alicia Wallace, Daily Camera
