Wed April 2, 2014

Colorado Business Remains Optimistic About 2014 Economy

The state economy is continuing its upward trend – and so is the confidence level of Colorado’s business leaders heading into the second quarter of 2014.

The latest Leeds Business Confidence Index (LBCI) [.pdf] finds industry leaders feeling optimistic across nearly all sectors.

"We found that panelist’s expectations for all metrics remain very positive as we enter Q2," said Brian Lewandowski with the University of Colorado Boulder's Leeds School of Business. "They were positive for the national outlook, the state outlook, for hiring, capital expenditures, sales and profits."

The second quarter LBCI posted a reading of 61, an increase from 59.9 in Q1 of 2014. Any reading over 50 is considered positive.

The recent increase in confidence is tied to economic growth, and that momentum is likely to continue into the next year.

Confidence is higher for Colorado's economy than the nation's as a whole.
Credit Business Research Division, Leeds School of Business / CU Boulder

"Colorado has been one of the fastest economies to recover nationally. I think we were in the top six states for employment growth last year," Lewandowski said. "We’ll be in the top five this year and perhaps the top three next year... I think that part of it is due to our diverse economy. But I think part of it was also good timing as far as the energy boom goes in Colorado."

Although employment figures vary by industry, nearly all areas saw job growth in January 2014 compared with a year earlier.

The top areas for growth were the Greeley Metropolitan Statistical Area (MSA), up 6.3 percent; the Fort Collins-Loveland MSA, up 2.8 percent; and the Denver-Aurora-Broomfield and Boulder MSAs, up 2.5 percent each.