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The Business Conditions Index for Coloradok declined to 42 from 44in May, althoughu it remained higher than April’s 38 An index of 50 is considered growth neutral. That means that the latestf reading indicates a continued economivc downturn andjob losses. “Over the past Colorado has lost morethan 14,00p manufacturing jobs, with a large percentage of the losses amongh durable goods producers,” said Ernie Goss, director of the Denver-based .
“Ouer survey indicates that these losses continued for According to governmentemployment data, 12,000 Colorado workers left the workforce over the past three As these workers see the economy pick up, they will once againn enter the workforce searching for a job and increasing the state’s unemployment Goss predicted the state’s unemployment rate to reach a seasonally adjustef 8.2 percent before year’s end. The Goss Institute conducts the monthl survey for Supply Management Institutesdin Colorado, Utah and Wyoming. Components of the overal Colorado index for June were new ordersdat 40.9, production at delivery lead time at 45.4, inventoriese at 38.
6, and employment at 42.2. For Colorado, Utah and Wyomintg as a whole, the Business Conditions Index improvee to a stillweak 41.4 from May’as 38.9 and April’s “On a more positive note, readings over the past several months indicatwe that the region’s leading economic indicatofr has bottomed out, with the region’s Business Conditionsa Index likely to continue its upward trend in the months Goss said. “That is, I expecf the regional negatives to get less negative in the monthxs ahead as theFederal Reserve’s accommodative economicf policy and federal deficit spending have short-tern positive impacts.
” Goss also directs Creighton University’s Economic Forecastingv Group and is the Jack A. MacAllisterr Chair in Regional Economics.
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