Colorado business leaders have gone from dour to a tad hopeful heading into the new year, according to the latest University of Colorado Boulder’s .
The survey of 230 business leaders registered a score of 51.5 for the Colorado economy in the first quarter of 2020. That is up from the score of 47.4 measured in the fourth quarter.
A score of 50 is the neutral point, and the overall confidence index went from 46.9 to 50.8. Thursday’s report marked a reversal in a year-long slide in business confidence.
“Colorado’s economy is still growing according to most indicators,” said Rich Wobbekind, executive director of the Leeds Business Research Division in comments accompanying the index. “These results reflect the real business successes we’re seeing with the general uncertainty business owners feel going into the new year.”
All six of the indicators measured rebounded, including expectations for sales, profits, hiring and capital expenditures. An improved trade outlook, stable interest rates and continued strength in the labor market all helped boost confidence as 2019 wrapped up.
Business leaders, however, weren’t as optimistic about the national economy as they were about the Colorado economy. Although the U.S. outlook rebounded from a reading of 38.5 in the fourth quarter to 45.9 in the first quarter, that still represents a negative outlook.
