Survey: Mining and energy helps buoy Colo. economy
DENVER, Colorado ” Supply managers in Colorado, Utah and Wyoming say they have confidence in the economy short term. But they’re not so sure about the months ahead.
The Mountain States Business Conditions Index for September was at 56.3, down slightly from August’s 56.4. A number 50 and above indicates confidence that economy will expand.
Economist Ernie Goss has conducted the survey since 1994. He says the national housing meltdown and related financial crisis hasn’t been felt yet in the three states. He thinks that’s partly because of growth in the mining and energy sectors.
However, six months out, the confidence index plunged to a record low of 28.8. The survey was conducted Friday and on Monday as Congress considered the $700 billion Wall Street bailout.
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