Published: April 7, 2020
LBCI Q2 2020

Business leaders’ confidence hit a record low in the latest Leeds Business Confidence Index (LBCI) report, primarily due to concerns about the COVID-19 outbreak. The index also captured its greatest single-quarter drop since the start of the LBCI in 2003.

Leeds’ Business Research Division (BRD) produces the LBCI quarterly, which records local business leaders’ expectations for the state and national economies as well as industry sales, profits, hiring, and capital expenditures. Nearly 425 leaders responded to the survey between March 1 and March 20.

All areas measured by the LBCI dropped ahead of Q2. Looking ahead to Q3 2020, expectations are still low but noticeably higher compared to Q2. Only hiring and capital expenditures remained above their all-time lows despite declining sharply.

Participants are most pessimistic about the outlook of the national economy. Although, they are less pessimistic about the state economy and Colorado’s potential to outperform the nation through the economic crisis.

According to Brian Lewandowski, executive director of BRD, there is less pessimism two quarters out (in Q3), which tells us they’re hopeful that things will improve before the end of the year.

Read more about the report here.

Media Mentions

Denver Post

Colorado business confidence plummets on coronavirus concerns

Kafer: Colorado’s coronavirus response brought the hammer, but there’s a better way

BizWest/Daily Camera/Prairie Mountain Media

CU Boulder Leeds Business Research Division: Business confidence drops to lowest recorded level

Colorado Public Radio

Coronavirus Pandemic Ramps Up The Pessimism Of Colorado Business Leaders

CBS4 Denver
Coronavirus In Colorado: Business Optimism Hits Historic Low, And Will Probably Go Lower

Colorado Springs Gazette/Colorado Politics
Colorado business confidence index sinks to lowest level ever due to COVID-19

Grand Junction Business Times

Colorado business confidence index tumbles to record low

Salida Mountain Mail

Colorado business leaders’ optimism drops to 17-year low

Colorado Springs Business Journal

Colorado business optimism hits historic low amid COVID-19 pandemic