Throughout the year cber.co produces four types of research that measure the performance of the state economy;
- Economic forecast of Colorado. Click here for the 2019 forecast.
- Periodic economic updates throughout the year.
- Special reports on key topics.
- Weekly blog posts.
This research shows where the state economy has been and where it is headed in the near-term and the factors that have caused it to change.
Colorado Economic Forecast 2019
Watch for the following in 2019….
- Colorado Economy – In 2019, The Colorado economy will mirror the slowing in the global and U.S. economies.
- Real GDP – The Colorado real GDP growth rate will be greater than the U.S. rate and will be driven by health care, real estate, and the extractive industries in 2019.
- Net Migration – Net migration has trended downward since 2015.
- The natural rate of increase in population will remain flat as a result of the decreasing fertility rate.
- Employment – Colorado job growth, 2.2%, will be less than 2018.
- Unemployment – The unemployment rate will increase to 3.3%.
- Lack of Trained Workers – The Colorado economy is not operating efficiently because the unemployment rate is too low. There are not enough qualified and trained workers in many sectors.
- Colorado’s Three Economies – There are three economies in Colorado: Front Range, micropolitan areas such as Durango, and rural Colorado. It is an understatement to say that many rural counties are significantly challenged.
- Retail/Accommodations and Food Services – Retail trade and the AFS sector are evolving, in part because there are too many firms. Sales growth will reman solid, but employment growth will be modest.
- Construction – Construction along the Front Range has benefitted from the warm and dry winter, but it has been constrained by the lack of qualified workers.
- State/K-12 – State government and K-12 education are likely to see significant job growth in 2019.
- Weather – The weather will continue to have a significant impact on the tourism, agriculture, and construction industries.
- Inflation – The Colorado inflation rate will decline; however, it will be greater than the U.S. rate.
- Future Economic Drivers – Welcome to the Spaceport and Gaylord – economic drivers of the future! In addition, companies such as Lockheed continue to secure business that make Colorado a leader in technology.
- Legislature – As has happened in the past, there is likely to be overreach in the legislature. Important issues will be addressed, but it is unlikely that critical needs, such as transportation will not be adequately addressed.