Monday, October 5, 2009

Colorado economy predicted to rebound

While Colorado was one of the last states to succumb to the U.S. recession, it appears poised to be among the first states to rebound, according to the University of Colorado at Boulder's leading economist. If technology and business spending fuel the recovery, then Colorado is in a strong position to benefit, Richard Wobbekind said. The higher energy and commodity prices that accompany a recovery should benefit Colorado, especially the more rural areas in the state. A broader U.S. recovery will also result in more goods being transported, which will benefit Colorado. Forecasts call for the state's job growth to return to a positive 0.4% next year, fourth-best among all states. Wobbekind cautions any recovery will be sluggish at best. Unlike some economists, he doesn't expect a second downturn or double-dip recession later in 2010 or 2011. "We think we have enough momentum to stay positive," he said.