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In recent months, business confidence in Colorado has been on the rise as concerns over inflation and recession begin to ease. According to a survey by the Leeds Business Confidence Index at the University of Colorado Boulder, this surge in optimism marks the first positive outlook in two years.

Looking ahead to the second and third quarters, 178 panelists reported positive expectations for the national economy, state economy, industry sales, profits, hiring plans, and capital expenditure. This positive outlook is a significant change from when high inflation dominated headlines in 2022.

The index increased from 45.3 in the first quarter to 53.7 for the second quarter and 53 for the third. All six categories in the index improved year-over-year and remained in positive territory. Respondents attributed their improved outlook to general economic conditions, politics including the upcoming election, and interest rates.

Colorado business leaders showed more optimism about the outlook for their state’s economy, scoring 54.1 compared to the U.S. economy which scored a 51. The highest level of optimism was seen in industry sales with a score of 57.9. As a result of this optimism, there was an increase in spending and hiring as indicated by the rise in index scores for hiring plans from 45.3

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