Vectra index shows small business confidence up

Filed under: Daily News |

The Vectra Bank Colorado Small Business Index for Colorado rose nearly five points to 90.8 in March, the sixth straight monthly increase.

The index, which measures business conditions from the viewpoint of the Colorado small business owner or manager, was up from 85.9 percent in February.

Jeff Thredgold, Vectra Bank Colorado’s corporate economist said the pace of job losses is slowing, and the state continues to emerge from its painful recession.

Colorado jobless rate is a positive contributor to the index, as it suggests greater access to labor for small businesses. But in the long run, a rising economy that creates more jobs also is good for businesses, which benefit from increased household spending.

Following revision, the U.S. economy has added jobs during three of the past five months, and most economists are forecasting that hundreds of thousands of new jobs will be reported over the next few months, Thredgold said.