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Throughout the year cber.co produces four types of research that measure the performance of the state economy;

  • Economic forecast of Colorado.
  • Periodic economic updates throughout the year.
  • Special reports on key topics and copies of presentations.
  • Periodic blog posts.

The forecast is available at 2022 Economic Outlook and Trends for the United States
Please refer to the monthly Economic Updates tab for the most current revisions!

Colorado Economic Forecast 2022 (August 22, 2022 Update)


The Colorado real GDP growth rate for 2022 was revised downward to reflect slower growth in Q4.

The state labor market will remain strong through eight months, followed by a slowdown that continues into 2023.

Retail sales will remain strong in 2022. They will increase at a slower rate than in 2021. A portion of the 2022 growth reflects inflated prices.

Colorado businesses will face headwinds from increased inflation, supply chain disruptions, labor shortages, interest rate hikes, and ineffective public policy.

 

The number of DIA passengers has increased rapidly in 2022. The year-end total will be less than for 2019.

The demand (based on the number of building permits) will continue to exceed the supply because of in-migration and the Marshall Fire. The total number of building permits will be slightly more than in 2021. Higher input costs, rising prices, and interest rates will negatively impact construction, and home sales, and financial services.

The production of crude oil declined in 2021 because of state regulations. Oil production will increase slightly in 2022.


Colorado Economic Forecast 2022 (January 2022)

Colorado’s real GDP growth rate will be greater than the U.S. rate in 2021 and 2022.

Employment will return to its February 2020 level in the second half of  2022. The labor market expanded at a faster pace than expected in 2021. It will taper off in 2022.

Retail sales rebounded in 2021. Growth will be slower in 2022.

In 2021 and 2022, Colorado inflation will be greater than in recent years. The increased inflation will negatively impact economic growth in the months ahead. Typically, the Colorado CPI exceeds the national rate.

In 2021, DIA was one of the busiest airports in the country. The number of passengers was ten million less than the total for 2019. The number of passengers will increase by five million in 2022.

There was an increase in the number of building permits issued in 2021. The number of permits issued in 2021 as demand exceeds the supply and 1,100 homes were destroyed in the Marshall Fire.

The production of crude oil declined in 2011 because of state regulations. Oil production will increase slightly  in 2022 as the economy returns to “normal.”