Edit ModuleShow Tags

2018: A Strong Year for Colorado

Now, the volatility has arrived


Published:

Looking at key data through November (employment) and the third quarter (transportation and housing), we see Colorado's economy performed as expected in 2018. The tax cuts helped, especially in areas like light truck purchases. Both passenger and freight traffic at Denver International Airport maintained a strong pace along with the national economy. These factors and strong growth in single-family home construction helped push employment growth above rates experienced in 2016 and 2017. Despite the strong growth, the unemployment rate increased thanks to even higher rates of labor force growth as more people were drawn back into the labor force seeking jobs. 

The surprises for the year were a slowing rate of population growth and the Denver-Aurora-Lakewood Consumer Price Index increasing at a lower rate than the nation. This may be reflective of a cooling off in housing cost increases. Housing cost cooling may also be reflected by the decline in multi-family building permits in the third quarter of 2018 compared to 2017.


A ROBUST ECONOMY WITH EARLY HEADWINDS AND POTENTIAL STRONG GUSTS


We expected increasing national economic volatility in the second half of 2018. It took a while to get here, but now that the tax cut stimulus has subsided and Washington politics are hot as ever, the volatility has arrived. How will this play out in 2019? Stay tuned for our 2019 forecast in the coming weeks.

Edit Module
Tom Binnings

Tom Binnings is a senior partner at Summit Economics in Colorado Springs. He has more than 30 years of experience in project management, economic and market research, real estate development, business analytics and strategic planning. He can be reached at (719) 471-0000 or tbinnings@comcast.net.

Get more content like this: Subscribe to the magazine | Sign up for our Free e-newsletter

Edit ModuleShow Tags

Archive »Related Articles

Faces of Community Service: Bellco Credit Union

Started by employees of Mountain States Telephone and Telegraph in 1936, Bellco has grown to become Denver’s largest credit union with 325,000 members and more than $4.5 billion in assets.

Protect Your Finances While on Summer Vacation

Take heed of these suggestions to keep your finances protected before, during and after vacation.

Why You Need Strategic HR

This kind of thinking created a dual perspective where employees saw HR as a provider of perks and protection.
Edit ModuleShow Tags
Edit ModuleEdit ModuleShow Tags
Edit ModuleShow Tags Edit ModuleShow Tags
Edit ModuleShow Tags Edit ModuleShow Tags
Edit ModuleShow Tags Edit ModuleShow Tags