Template2019-03-12T10:57:22-06:00

U.S. Economy is Stronger than Expected, Colorado Economy is Solid

Recently released data shows the U.S. economy is stronger than expected and the Colorado economy is on solid footing.

The best economic news was delivered by the BEA - U.S. real GDP for Q1 increased at a rate of 3.2%. In addition, the NAHB Housing Market Index is trending up, light truck and auto sales were strong in March, construction spending is up, and the 30-year mortgage rate is around 4.0%.

Colorado is on track to add 48,900 jobs this year. This is lower than expected, but, initial and continuing unemployment claims remain low, housing prices are increasing at a decreasing rate, and the state will likely set another record for the number of barrels of oil produced. The sectors leading job growth are Professional, Scientific, and Technical Services; Accommodations and Food Services; and Health Care. The review of economic trends can be found by clicking here or going to http://cber.co/.

Finally, don't forget to take a look at the most recent quarterly economic updates published by the Governor's Office of State Planning and Budgeting and the Colorado Legislative Council. Their reports provide a comprehensive overview of the state economy and the challenges facing our state government.