Colorado business leaders’ confidence dove to historic lows entering Q2 2020, with 86% of panelists citing COVID-19 for their pessimistic outlook. The index also recorded the largest single-quarter decline in the 17-year history of the index, illustrating the rapid deterioration of the economy.
The Leeds Business Confidence Index (LBCI) captures Colorado business leaders’ expectations for the national economy, state economy, industry sales, profits, hiring plans, and capital expenditures. Ahead of Q2 2020, the index dropped 21.1 points to 29.7, with all components of the index well-below neutral (50). Signaling that the economy is expected to improve in the third quarter as the virus fades, the index rebounds modestly to 38.2.