- Advertisement -spot_img
Tuesday, March 28, 2023

Colorado’s economic recovery to keep pace through April, says new forecast

Colorado’s economy may need several months to regain the jobs it lost during the pandemic, but in terms of production or GDP, it returned to pre-pandemic levels by September, according to ColoradoCast. A new short-term economic forecast.

“We’re certainly in growth mode in the Colorado economy. We don’t expect that to change,” said Phyllis Resnick, executive director of the Colorado Futures Center at Colorado State University, which produces ColoradoCast.

The model, developed by Resnick and economist Steven Fisher, calls for Colorado’s economy to grow at a 6.45% annual rate in April. That’s down from an estimated 10% rate currently, but still strong by historical standards and high enough to keep recruiting strong.

ColoradoCast tries to fill the gap left by annual forecasts, such as the Colorado Business Economic Outlook, released Monday by the University of Colorado Boulder, by forecasting monthly changes in the state’s GDP over six months.

In contrast to the jobs and unemployment figures, the state’s GDP figures are several months behind. To bridge that gap, the Federal Reserve Bank of Philadelphia produces a coincident economic activity index for Colorado and other states that tries to predict where GDP growth is headed.

ColoradoCast tries to estimate what leads to that coincidence index by studying six indicators: the yield curve, the risk premium in corporate bonds, job counts in temporary agencies and other employment service providers, Denver’s Case-Shiller Index. As measured by home prices, initial unemployment claims, and changes in the Wilshire 5000 stock index.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
Latest news
Related news
- Advertisement -


Please enter your comment!
Please enter your name here