Stock Market Troubles Likely to Impact Northern Colorado Economy
Economists say fallout from the struggling stock market is likely to delay the sluggish recovery in many states, including Colorado.
The stock slide that began last week continued today, with American markets joining those overseas in another selloff. Martin Shields, regional economist with Colorado State University, says that market volatility is very likely to impact Northern Colorado as it does the rest of the nation. Concerns regarding the U.S. economy stem partly from the financial crisis in Europe, as well as a decline in consumer spending here, and a belief that the government might be out of tools to stimulate the economy further.
It’s not yet known to what extent a national slowdown might impact the Northern Colorado economy. A recent Bloomberg News article cited a money manager at Boston-based Loomis Sayles & Co. who says the probability of a double-dip recession ‘has certainly been elevated.’ However, Shields says he doesn’t expect that to happen.