Colorado business confidence inches higher going into third quarter

July 1, 2014

July 2, 2014                       Richard Wobbekind

           The confidence of Colorado business leaders remains positive and has slightly increased going into the third quarter of 2014, according to the most recent Leeds Business Confidence Index, or LBCI, released today by the CU-Boulder’s Leeds School of Business.

           According to economist Richard Wobbekind, executive director of the Leeds School’s research division, the third quarter LBCI posted a reading of 61.2, an increase from 61 last quarter.

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Colorado business confidence inches higher going into third quarter

July 2, 2014                                                  Richard Wobbekind

           The confidence of Colorado business leaders remains positive and has slightly increased going into the third quarter of 2014, according to the most recent Leeds Business Confidence Index, or LBCI, released today by the CU-Boulder’s Leeds School of Business.

           According to economist Richard Wobbekind, executive director of the Leeds School’s research division, the third quarter LBCI posted a reading of 61.2, an increase from 61 last quarter.

CUT 1 “The business confidence index going into the third quarter remains positive -- a slight uptick from the second quarter results but at an extremely high level -- very, very positive going into the third quarter.” (:15)

            And while both large and small employers were notably positive headed into the new quarter, Wobbekind says large employers of 50 or more employees expressed greater optimism with an index of 64 compared to 58.8 for small employers.

CUT 2 “The biggest divergence, in terms of the individual components, related to capital expenditures and hiring. (:06) I don’t think that’s too surprising, perhaps, because for small businesses capital expenditures or hiring are big investments, if you will. You have to really think through the process a little bit more carefully.” (:20)     

            Somewhat of a surprise to Wobbekind is that the national numbers were up slightly even though the gross domestic product, or GDP, was revised down.

 

CUT 3 “The national number ticked up slightly, which is particularly surprising in the fact that while the survey was going on, while we were conducting it, the national number for the first quarter for GDP was revised down to minus 2.9 percent -- one of the worst readings in several years. (:17) In spite of that, the business leaders are saying things are still growing, things are still positive and we feel good about our economic future.” (:26)

 

           For more information about the Leeds School’s Business Research Division and the third quarter report for 2014, visit http://leeds.colorado.edu/brd.

 

-CU-

 

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