Economic activity in metro Denver slowed in the fourth quarter, but hiring held up and home prices continued racing higher, according to the .
The value of goods and services produced by metro Denver’s economy rose 0.6 percent in the fourth quarter from the third quarter, down significantly from the 1.9 percent increase in output measured between the second and third quarters, according to the quarterly report.
The drop was big enough to push metro Denver under the 0.7 percent gain in output recorded nationally in the fourth quarter.
Employment increased 0.8 percent between the third and fourth quarters in metro Denver, a slight uptick from the 0.7 percent increase between the second and third quarters and still faster than the U.S. gain of 0.6 percent in the fourth quarter.
Home prices are where metro Denver continued to show some of the strongest gains. They appreciated at a 3.3 percent quarterly pace in the fourth quarter, accelerating from the 2.4 percent pace seen in the second. Nationally, home prices rose 1.4 percent in the third quarter and 1.5 percent in the fourth.
Brookings Metropolitan Policy Program reviews the 10 largest metropolitan statistical areas in the Mountain West region each quarter. All metros in the region, with the exception of Albuquerque, reported gains in output during the fourth quarter, led by Ogden and Provo, which rose at a 1.7 percent and 1.6 percent clip, respectively.
All of the mountain metros also experienced employment gains in the fourth quarter, with the exception of Colorado Springs, which showed a 0.1 percent decrease, and Las Vegas, which was flat. Brookings looks at metro areas, where much of the region’s economic activity is concentrated.
A separate report Thursday from Creighton University indicated that rural economies in Colorado and surrounding states were weakening because of lower
Aldo Svaldi: 303-954-1410, asvaldi@denverpost.com or twitter.com/aldosvaldi
