Colorado’s business confidence sees first positive shift in 2 years

The Leeds Business Confidence Index from the University of Colorado Boulder reports a surge in business confidence in Colorado as concerns over inflation and recession begin to ease. This marks the first positive outlook in two years, with 178 panelists surveyed reporting positive expectations for the national economy, state economy, industry sales, profits, hiring plans, and capital expenditure.

Despite high inflation dominating headlines in 2022, an overall index increase from 45.3 in the first quarter to 53.7 for the second quarter and 53 for the third indicates a significant change in outlook. All six categories in the index improved year-over-year and remained in positive territory. Respondents attributed their improved outlook to general economic conditions, politics including the upcoming election, and interest rates.

Colorado business leaders showed more optimism about the outlook for their state’s economy, scoring 54.1 compared to the U.S. economy which scored a 51. The highest level of optimism was seen in industry sales with a score of 57.9. This optimism often leads to increased spending and hiring as indicated by the rise in the index for hiring plans from 45.3 in the first quarter to 50.1 in the second and third quarters.

Although inflation remains a concern with consumer prices up 3.5% year-over-year in the Denver-Aurora-Lakewood area in January according to

By Samantha Johnson

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