Colorado Politics

Colorado had 9th-slowest economic growth in 3rd quarter

Colorado’s economic growth slowed in the third quarter as the state registered the 9th-slowest growth from the previous quarter, according to a U.S. Bureau of Economic Analysis report.

That downturn comes after the state had the 10th-fastest growth among states in the second quarter of 2020.

That left Colorado’s gross domestic product the 16th-highest in the United States at end of the third quarter, according to a report released last week that reflected volatility involving what states reported in the second and third quarters.

Nevada went from the second-slowest growing economy among states in the second quarter to the fastest-growing economy in the third quarter. Tennessee went from the third-slowest growing economy to second fastest growing in the third quarter, the Denver Post reported.

Colorado’s unemployment rate has remained stagnant at 6.4% for the past three months while the U.S. has reported a decrease from 7.9% to 6.7% over the same time frame.

The government, healthcare, retail and information services industries underperformed in Colorado compared to the nationwide performance of those sectors.

Mining in the state, including oil and gas extraction, hindered gains in the third quarter.

Still, the size of the state’s economy is back to where it was in the summer of 2019.

colorado economy
Evgeny Gromov / iStock
Tags

PREV

PREVIOUS

IN MEMORIAM | Recalling Coloradans who died in 2020

In a year that saw a new virus emerge as one of the state’s leading causes of death within weeks of its arrival amid a global pandemic, Colorado lost leading political and civic figures, pioneers who left their mark and helped shape the state they left behind. Through Dec. 30, the Colorado Department of Public […]

NEXT

NEXT UP

Colorado Springs defense firm using gaming to train Space Force personnel

A Colorado Springs defense contractor wants to use a gaming-based training system it developed, with a name chosen from one of Star Trek’s most feared villains, to prepare U.S. Space Force personnel for their next assignment. The Battle Space Operational Readiness Game, or BORG, was designed by Boecore to replace lengthy and ponderous Microsoft PowerPoint […]


Welcome Back.

Streak: 9 days i

Stories you've missed since your last login:

Stories you've saved for later:

Recommended stories based on your interests:

Edit my interests