BizWest Northern Colorado Economic Forecast: Is a recession on the horizon?

NORTHERN COLORADO — Despite the prevalence of fairly positive economic data points, the question on everyone’s mind these days seems to be whether a recession is inevitable in 2023.

Rich Wobbekind, faculty director and senior economist at the Business Research Division of the University of Colorado Leeds School of Business, weighed in Thursday at BizWest Northern Colorado Economic Forecast event in Loveland and predicted that 2023 will be characterized by “not a recessionary scenario, but an extremely slow-growth scenario.”

Economists at the BRD project 0.5% gross domestic product growth in 2023, with slower growth “particularly in the third and fourth quarter,” he…