Index: Colorado business leaders’ confidence down

The Leeds Business Confidence Index dropped to 53.6 going into the third quarter compared to 62.2 in the second, though the figures are better than they look.

The index, produced by the University of Colorado Leeds School of Business, remains higher than the 10-year average and above the neutral mark of 50.

“While third-quarter data show some waning optimism, the outlook still remains positive,´ said economist Richard Wobbekind, executive director of the school’s Business Research Division, which conducts the study quarterly.

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On the other hand, “going forward, the European debt crisis, the rate of employment growth and subpar construction activity are still areas of concern for the economy as a whole,” he said.

Hiring expectations decreased from 59.6 in the second quarter to 53.7 in the third. Statewide, the strongest growth sectors year-over-year in May were in the professional and business services sector, which added 8,900 jobs. Education and health services added 7,800 jobs and the construction industry added 7,000.

The national confidence index dropped below 50, indicating negative expectations, to 46 from 62.2 the previous quarter.

The complete report can be found here.