Growth in Colorado’s business economy, based on a monthly survey of business managers in the state, declined sharply in September, according to the Goss Business Conditions Index released Tuesday.
The index dropped to 52.2 from 56.5 in August. An index value greater than 50 indicates economic expansion, while a value lower than 50 indicates contraction.
By comparison, the index for Colorado in May stood at 62.8.
Ernie Goss, research director for the Goss Institute for Economic Research, noted that not only was the index for Colorado down but the index for the Mountain States region — which includes Colorado, Utah and Wyoming — sank to 51.0 from 53.6 in August.
“Even though growth will continue for the remainder of 2013, it will be at a slower pace,” Goss said. “Mining firms and companies … are experiencing pullbacks in economic activity.”
He warned that if the government shutdown is lengthy, even modest growth will be jeopardized.
