Colorado’s economy is expected to slow down by the end of 2023, but strong labor market will buoy slowdown

DENVER –

Inflation, which is showing some signs of a cool down, is decreasing at a slower pace in Colorado than the national average – 4.7% compared to 4%, respectively – due to a resurgence in demand for shelter and services. The gross domestic product is expected to continue growing, though at a slower pace than last year, to 1.4% in 2023. Economic growth is expected to return to 2.3% in 2025, officials noted, slightly outpacing potential growth.

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