Business confidence remained at record high levels ahead of Q3 2021, driven by record optimism about the state economy, industry sales, and industry hiring. The index increased 2.9 points from Q2 2021 to Q3 2021 and slipped only slightly looking out further to Q4 2021. Optimism was centered around increased demand, reopening of the economy, decreasing COVID cases, and the vaccine; however, there remained concerns about worker shortages, inflation, and the supply chain.
The Leeds Business Confidence Index (LBCI) captures Colorado business leaders’ expectations for the national economy, state economy, industry sales, profits, hiring plans, and capital expenditures. The index increased 2.9 points ahead of Q3 2021, with gains across all six components of the index. Panelists anticipated a sustained recovery in the fourth quarter of 2021; the index remained near record levels two quarters out. A total of 250 qualified panelists responded to the survey from June 1 through June 21.