Mountain States Economic Indicator Dips, Levels Still Healthy
The latest economic survey of supply managers in Colorado, Wyoming and Utah still points to growth over the next three to six months. But one area will be noticeably absent.
Nationally, new construction spending has hit its lowest level in more than a decade. And numbers out this week show companies in Colorado are also expecting less construction in the months ahead.
“Only five percent of the supply managers expect to be expanding real estate or construction projects, or leasing. So that was certainly a fly in the economic ointment,” says Ernie Goss, director of the Creighton Economic Forecast Group.
But overall, Goss says the Business Conditions Index in the three state mountain region is at a healthy level. A score above 50 indicates growth. May’s score was 57.5 down from 58.6 in April. The survey looks at employment, wholesale prices, trade, and business confidence.