The economies in the three mountain states – Wyoming, Colorado and Utah – advanced faster than the national average, according to a report about leading economic indicators.
The three-state region has performed better than the nation for the past 35 months. But for the first time in 34 consecutive months, the national economic indicators fell – showing no growth, according to the Goss Institute for Economic Research.
The institute performs monthly checks of the nation’s economy – using indicators such as new orders, production, employment, inventories and delivery lead time.
“Energy and exports continue to fuel expansions among the region’s durable and nondurable goods manufacturers,” said Dr. Ernie Goss, director of the institute. “The growth gap between the mountain states’ economy and the .s. economy is widening as the national economy continues to slow.”
In Colorado, durable goods manufacturers – including computers and electronics – are experiencing solid upturns, Goss said.
Colorado’s nondurable goods are also expanding sales and employment, he said.
Employment growth in the region as a whole is still strong, he said. Business optimism remains a problem, he said.
“Supply managers, much like the entire business sector, remain very pessimistic regarding future economic conditions,” he said. “The looming fiscal cliff, the elections and European economic turmoil are all weighing on economic conditions.”