After falling to a historic low in Q2 2020, Colorado business leaders鈥� confidence improved ahead of Q3 and Q4 2020. A small majority (52%) continued to cite COVID-19 for their pessimistic outlook, but glimmers of optimism shone through with individuals citing resiliency and pent-up demand for the comparatively optimistic outlook. While Q3 confidence remained at levels recorded during the Great Recession, the quarterly increase marked a record improvement from Q2; the Q4 outlook rose just above neutral.
The Leeds Business Confidence Index (LBCI) captures Colorado business leaders鈥� expectations for the national economy, state economy, industry sales, profits, hiring plans, and capital expenditures. Ahead of Q3 2020, the index increased 14.6 points to 44.3, with 5 of the 6 components of the index below neutral (50). Signaling further improvement in the fourth quarter, the index rebounded to 51, just crossing the neutral threshold.