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

Colorado business leaders have expressed increased confidence in the national and state economies, according to the Leeds Business Confidence Index from the University of Colorado Boulder. This surge in confidence marks a positive outlook not seen in two years. The index, which tracks expectations for industry sales, profits, hiring plans, capital expenditure, and the overall economy, showed improvement across all six categories year-over-year.

Looking ahead to the second and third quarters of 2023, respondents expect positive growth for both the U.S. and Colorado economies. Despite concerns about high inflation in 2022, business leaders remain optimistic about future prospects. Factors contributing to this improved outlook include general economic conditions, politics – including upcoming elections – and interest rates.

Colorado’s business community expressed particular optimism about industry sales, with a score of 57.9 compared to the U.S., which scored a 51. Hiring plans also saw significant improvements from Q1 to Q2/Q3, with an increase from 45.3 to 50.1 respectively.

While inflation remains a concern with consumer prices up 3.5% year-over-year in January 2023 (according to the U

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