Confidence among Colorado business leaders is up sharply in the second quarter of 2013, despite earlier fears that sequestration would impact the economy.
The newest quarterly survey from the University of Colorado Boulder’s Leeds School of Business shows a reading of 58.1 – sharply higher than last quarter’s reading of 51.3.
In addition, expectations were positive (above 50) for all metrics, including the national economy, which measured negative one quarter ago.
Leeds School economist Richard Wobbekind says a strengthening economy is fueling the surge in confidence among the state’s business leaders.
“They have very positive views on the Colorado economy,” he says. “So it certainly is playing into the confidence index numerically -- but it’s also a reflection of the fact that these are Colorado businesses seeing better business in a state that is growing more rapidly.”
For the first time, survey participants were asked about sequestration in addition to other factors that could derail economic growth. Wobbekind says business leaders were not as concerned with the massive federal budget cuts as they were with a drop in consumer confidence and the payroll tax increase from January.
