The confidence of business leaders in Colorado continues to grow into the new year, according to University of Colorado Boulder’s Leeds Business Confidence Index. The university’s Leeds School of Business reported that business confidence appears at its strongest since the index was introduced 11 years ago, according to a news...
Real gross domestic product — the value of the production of goods and services in the United States, adjusted for price changes — increased at an annual rate of 5 percent in the third quarter of 2014, according to the "third" estimate released by the Bureau of Economic Analysis....
Political disputes only serve to discourage economic growth in the Pikes Peak region, said economist Tom Binnings, senior partner with Summit Economics. “I hear this a lot through the business community, prospects through the Regional Business Alliance, that our local political environment is not conducive to community economic development,” Binnings...
Colorado Springs’ lodging occupancy rate increased by 3.3 percent over 2013, year-to-date, according to the Colorado Hotel and Lodging Association’s Rocky Mountain Lodging Report. The rate, which is just below 66 percent, is below the state average occupancy rate of 71 percent, however. The highest reported occupancy rate was Loveland at 81.1 percent. The lowest reported […]
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Chuck Murphy, who has had a major impact on the Colorado Springs economy as well as historical preservation in the area for a half-century, won an honor Saturday night that recognized his lifetime of efforts and achievements. Murphy was named Business Citizen of the Year for 2014 by the Colorado Springs Regional Business Alliance, capping […]
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Nonfarm payroll jobs increased 14,600 over the month from August to September, to nearly 2.5 million jobs, according to a Department of Labor and Employment survey of business establishments. Private sector payroll jobs increased 14,700 and government decreased 100 over the month. Colorado has had 35 consecutive months of payroll job gains. According to the survey […]
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Carole Jackson of Security Florist used to bring her older flowers to the adjacent Dad’s Kwik Inn Diner at the end of each week. There her colorful contributions would adorn the tables. “We used to get customers often because of them,” she said of the now-vacant building at 385 Main Street in Security. According to […]
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Economic news released last week showed divergent signs about the national economy. On one hand, consumer confidence was increasing, but on the other hand, consumer spending was decreasing.  “I looked at that and scratched my head,” said economist Tucker Hart Adams of Summit Economics.  Consumer spending fell in July for the first time in six […]
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The current hostility between Mayor Steve Bach and City Council is divisive, disruptive and counterproductive to the future well-being of Colorado Springs. It is inhibiting our community’s efforts to move forward economically because our city leadership can’t agree on a common game plan. It is seriously damaging our ability to repair long-neglected infrastructure because we […]
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By Tom Binnings Summit Economics Colorado Springs has reached a critical moment in its economic history. This moment is similar in profile to the city’s founding in the 1870s, the Gold Rush around 1900, then World War II followed by the Cold War, and finally the growth of high-tech manufacturing and information technology in the […]
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Inflation is holding steady, according to the U.S. Department of Labor Bureau of Labor Statistics. The Consumer Price Index (CPI) of all items rose only 0.1 percent from one month ago, and 2 percent from one year ago. Economists factor the CPI by comparing prices of goods and services over a...
A Colorado Springs-based real estate firm’s quarterly report indicates that the local commercial market continues to lag behind many others in its climb to pre-recession health. Quantum Commercial Group LLC’s second-quarter market report showed vacancy rates are down in the office and retail submarkets, while they remain flat for industrial space. Quantum also reported that […]
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