Colorado business conditions dip - Denver Business Journal:

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The Business Conditions Index for Colorado declined to 42 from 44in May, althougnh it remained higher than April’s 38 An index of 50 is consideref growth neutral. That means that the latest readingh indicates a continued economic downturn andjob “Over the past year, Colorado has lost more than 14,00p0 manufacturing jobs, with a largre percentage of the losses among durable goods said Ernie Goss, director of the Denver-based . “Outr survey indicates that these losses continuedfor June.
According to government employmenyt data, 12,000 Colorado workers left the workforcew over the past three As these workers see the economypick up, they will once agaib enter the workforce searching for a job and increasing the state’s unemployment rate.” Goss predicted the state’s unemployment rate to reachu a seasonally adjusted 8.2 percent before year’x end. The Goss Institute conductzs the monthly survey for Supply Managementy Institutesin Colorado, Utah and Wyoming. Componentw of the overall Colorado index for June were new order sat 40.9, production at 43.2, delivery lead time at inventories at 38.6, and employment at 42.2.
For Utah and Wyoming as a the Business Conditions Index improved to a stillweak 41.4 from May’a 38.9 and April’s 37.8. “On a more positive readings over the past several months indicate thatthe region’ s leading economic indicator has bottomed out, with the region’sx Business Conditions Index likely to continuwe its upward trend in the months ahead,” Goss said. “That is, I expect the regional negativeds to get less negative in the months aheasd as theFederal Reserve’s accommodative economic policy and federal deficit spendinbg have short-term positive impacts.
” Goss also directs Creightom University’s Economic Forecasting Group and is the Jack A. MacAllistet Chair in Regional Economics.