Colorado biz leaders’ confidence strikes 2-year high

BOULDER — Business leaders in Colorado are more confident in the state and national economy than they have been in two years.

The Leeds Business Confidence Index, a metric calculated by University of Colorado economists, rose from overall pessimism to optimism looking ahead to the second quarter of 2024. This marks the first time since the early months of the post-COVID-19 pandemic recovery era that the state’s business leaders have felt positively about the near-term economic outlook.

The LBCI figure increased from 45.3 in the first quarter of the year to 53.7 for the second quarter. An index score — which is based on impressions of the state economy, national economy, industry sales, industry profits, industry hiring and capital expenditures — of 50 is neutral. 

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“Every component of the Leeds Business Confidence Index increased ahead of Q2 2024, and all components moved into positive territory,” according to CU economists. “Across the array of reasons given to explain their outlook, general economic conditions, politics, and interest rates were commonly cited as the most pressing factors.”

Looking ahead to the third quarter of 2024, the LBCI remains positive at 53 points, reflecting ongoing, although fairly temperate, optimism. 

This story will be updated Tuesday afternoon with additional commentary from University of Colorado economists.