Some Good News for Colorado's Economy
The recession is about two-thirds over and will end later this year--at least in Colorado, the Denver Business Journal reports, citing VectraBank Colorado's annual economic forecast.
The state has seen worse in recent decades, notes Tom Clark, executive vice president of the Metro Denver Economic Development Corp. The sectors hardest hit by this downturn, including financial services and durable-goods manufacturing, aren't too influential in Colorado, which is helpful, writes The Denver Post. The state didn't see astronomical rises in home prices, experienced in states like California, either.
According to another Journal story, two Colorado State University economists predict that after a "horrific" 2008, the economy could recover as early as the summer for myriad reasons, including "no real estate bubble to pop." Even housing contractors are fairing well lately, CBS4 notes, with people remodeling their homes as an investment for the future.
Moreover, CSU itself is one of the most significant growth engines in the state, according to a university press release.
Comments
Submitted by Elevated Voices - Colorado Wine Weathers Recession (not verified) on Wed, 2009-02-04 13:00.
[...] Caskey’s not sure whether to attribute the healthy industry to an increased interest in local culinary products (a sentiment furthered by the sloping economy) or a shift in tastes. Either way, this may be one more indication that Colorado’s economy is headed for an upswing. [...]

