New economic indicators build momentum in 1997

It’s only the beginning.

This issue’s debut of the 1st Choice Bank/Northern Colorado Business Report Leading Economic Indicators represents just the first installment in a dramatic expansion of The Business Report’s collection, analysis and dissemination of economic data for the region.

Under the auspices of John Green, a consultant, University of Northern Colorado economist and co-author of the Business Report’s “On Industry” column, the 1st Choice Bank/Northern Colorado Business Report Leading Economic Indicators will offer local business, government and economic-development officials a valuable resource for discussion of economic trends and cold, hard numbers.

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How Platte River Power Authority is accelerating its energy transition

Platte River Power Authority, the community-owned wholesale electricity provider for Northern Colorado, has a history of bold initiatives.

The indicators will be published on a quarterly basis, with the emphasis shifting with each quarter. Beginning with this installment, Green focuses on long-run economic indicators for the Northern Colorado economy, including Larimer and Weld counties. The long-run data is derived from the Bureau of Economic Analysis Regional Economic Information System for the years 1969 to 1994 and offer insights into the long-term performance of the economy.

Data to be covered in the long-run indicators include personal income, employment, cost of living and transfer payments from government to local beneficiaries.

The medium-run indicators, to be covered in the Business Report’s July issue, will include data with a six-month to two-year lag, including statistics from the Federal Reserve Bank of Kansas City and State of Colorado agencies. These indicators will compare Northern Colorado with the state and national economies. Data will include population, per capita income, new business incorporations, residential and nonresidential construction, sales-tax collections, checking deposits, savings deposits and others.

Short-run indicators will be covered in October and will include data with less than a six-month lag, such as business failures, labor force, unemployment, new sales-tax accounts, motor-vehicle registrations, construction, housing permits and retail sales-tax collections.

Additionally, the Leading Economic Indicators will include cost-of-living information from the American Chamber of Commerce Research Association for the cities of Fort Collins and Loveland. Data for Greeley lacks the completeness necessary for inclusion, but the Business Report has commissioned Green to initiate a new research effort to provide cost-of-living data for Greeley on a regular basis.

All of these indicators will come together in an expanded January edition of the indicators to run in conjunction with the Business Report’s Economic Forecast and likely will evolve to include an index of economic activity, to be known as the 1st Choice Bank/Northern Colorado Business Report Index of Leading Economic Indicators.

1st Choice Bank of Greeley is the inaugural sponsor of the Leading Economic Indicators.