Colorado’s business economy, based on a monthly survey of business managers in the state, continued to shine in August, according to the Index released Tuesday.
The overall index for Colorado climbed to 56.5 from 54.8 in July.
An index value greater than 50 indicates economic expansion, while a value lower than 50 indicates contraction.
“The state is adding jobs at an annual pace exceeding 2.0 percent, well above the region and nation,” said Ernie Goss, research director for the Goss Institute for Economic Research.
“Growth in manufacturing and mining continue at a slow pace while businesses tied to construction are experiencing upturns in business activity,” said Goss.
Components of the Business Index for August were new orders at 52.2; production or sales, 53.7; delivery lead time, 79.7; inventories, 43.5; and employment, 53.3.
Goss noted that in the Mountain States Region — Colorado, Utah, and Wyoming — the index declined to 53.6 from 55.1.
“Even though growth will continue for the remainder of 2013, it will be at a slower pace,” said Goss of the three-state region. “On the other hand, construction activity continues to trend higher and add to overall regional growth.”
Howard Pankratz: 303-954-1939, hpankratz@denverpost.com or twitter.com/howardpankratz
