According to a business confidence index released by the University of Colorado’s Leeds School of Business, Colorado businesses are more confident about the state’s economy. But the national economy...not so much.
Richard Wobbekind, an economist with CU, says business leaders in the state are optimistic about their sales, profits and capital expenditures for 2013 [.pdf]. However, the European debt crisisand the slow resolution to the US fiscal cliff standoff remain a concern.
“Having said all that, we expect the state to grow faster than the nation in 2013. And a lot of that is reflected in, I think, a pretty diverse base for our economy with a lot of the cylinders hitting right now. A lot of the pieces of the economy are doing well at the same time.”
Wobbekind says the state should experience job growth in multiple sectors this year including education, health services and construction.
“They’re looking at the growth in the state economy and especially the employment growth; we were a top five or so state in 2012 in terms of employment growth. They’re seeing that level of optimism."
The report surveyed business leaders in Colorado and found their confidence in the state’s economy stands at 55.5 points, while confidence in the national economy hovers at 47 points. A reading greater than 50 indicates positive expectations for future growth.
