Business confidence collapsing in Colorado as recession fears mount

Confidence among Colorado business leaders has plunged, with one in five now saying the U.S. economy has already entered a recession and nearly three in five expecting the downturn to arrive sometime next year, according to theEconomic expectations for the third quarter reached the fifth-lowest reading ever measured in two decades of business leader surveys and the outlook for the fourth quarter was even dourer, registering the fourth-lowest reading on record.

Pessimism was even greater regarding the U.S. economy. The index score went from 67.5 a year ago to 40.4 in the second quarter and 27.7 in the third quarter. Of the six items measured in the LBCI, including sales and profits, all forecast a contraction. Inflation was by far the biggest worry among those responding, with more than seven in 10 saying it has had anywhere from a moderate to a significant to extreme impact on business. More than half expect to increase wages and a large share plan to pass on price increases to their customers, which will perpetuate inflation.

Totally nothing to do with the current admin

But was it “unexpectedly?”

Now is the time to buy. Not Real Estate. Stocks. Buy on bad news from clueless media.

Thanks Joe Biden

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