Colorado business leaders feel confident heading into 2020

BOULDER — Business leaders are feeling more confident about Colorado’s economy heading into the first quarter of 2020 then they have in recent months, according to a new survey from the University of Colorado Boulder’s Business Research Division at the Leeds School of Business.

The Leeds Business Confidence Index — a measurement of Colorado business leaders’ optimism and expectations for six components: the state economy, the national economy, industry sales, industry profits, industry hiring and capital expenditures — ended a year-long downward trend last month.

The latest LBCI score, determined following a survey of 230 business people around the state from Dec. 2 to Dec. 20, 2019, was 50.8. An index score of 50 marks a neutral outlook.  

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“Colorado’s economy is still growing, according to most indicators,” Richard Wobbekind, executive director of the Leeds Business Research Division, said in a prepared statement. “These results reflect the real business successes we’re seeing with the general uncertainty business owners feel going into the new year.”

All six of the index components were up for the first quarter of the new year as compared with Q4 in 2019.

While business leaders were bullish on Colorado’s near-term economic outlook, they were more wary of the national economy. Citing concerns about trade and political uncertainties, respondents pegged their confidence in the national economy at 45.9.

“We expect Colorado’s population, employment, gross domestic product and income to keep growing in 2020,” Wobbekind said. “That should translate to Colorado’s economy continuing to outpace the nation.”