Index points to improving economic conditions

DENVER – Economic conditions are improving in the Mountain States Region, which includes Colorado, Wyoming and Utah, according to July data analyzed by the Business Conditions Index.

The index, which is based on a monthly survey of supply managers in the three states, showed a 51.5 reading in July compared to a 41.4 reading in June. An index of 50 is considered growth neutral.

Colorado’s July index rose to 51.1 from June’s 42.0 and May’s 44.0. Ernie Goss, research director for the Denver-based Goss Institute for Economic Research, said he expects the state’s seasonally adjusted unemployment rate to peak at 8.2 percent, the highest level since 1988, in the fourth quarter of this year.

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“Colorado will continue to lose manufacturing jobs, both durable and nondurable, in the months ahead,” Goss said. “However, the pace of these job losses will diminish significantly from the rate experienced earlier this year.”