Confidence amongst Colorado business leaders concerning the future, already dropping, slipped to lows not seen since 2011, based on a brand new survey out Wednesday from the Leeds School of Business on the University of Colorado Boulder.
The Leeds Business Confidence Index barely held above impartial at 50.1 for the primary quarter of 2019. In the second quarter of 2018, it was as excessive as 61.3.
Scores above 50 point out a constructive outlook, whereas these under 50 mark a extra bitter view concerning the outlook for the upcoming quarter on the index, which tracks expectations for the U.S. and Colorado economies, trade gross sales, income, hiring and funding.
The outlook for the U.S. economic system went sharply unfavourable, with an index rating of 42.5, whereas expectations for the Colorado economic system remained barely constructive at 51.
The souring temper appears extra rooted in uncertainty about nationwide coverage — greater rates of interest, a divided Congress and commerce disputes — than within the efficiency of the economic system, mentioned Richard Wobbekind, government director of the business analysis division.
Hiring stays sturdy, the unemployment fee remains to be at historic lows and the economic system is rising.
“I don’t think you can look at anything related to the real economy, other than perhaps housing, and say, ‘It’s really slowing down.’ There is plenty of spending power out there,” Wobbekind mentioned within the report.
Weaker confidence, nevertheless, might scale back business funding, which might in flip drag down the bigger economic system.