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Unformatted text preview: l areas of commercial properties and the sluggish economy may
imply that nonresidential construction will change
very little in 2012. Where Is the Southern Colorado Economy
The Southern Colorado economy is expected
to grow slowly over 2012—if it grows at all. Metropolitan GDP is expected to increase by
less than 1%. Global uncertainty, particularly in
Europe, continues to weigh down the national and
local economy. Consumer sentiment remains low,
and people are cautious. Uncertainty over a longer
term resolution to the federal government’s budget
creates another level of uncertainty in Southern
Colorado that could play out unfavorably. Housing and nonresidential construction will remain
anemic. This, combined with the global and
national uncertainties, leads to a forecast of
a drop in nonagricultural employment of 0.5%
in El Paso County in 2012. The unemployment
rate is expected to remain high, at 9.4%, in 2012.
Wages and salaries and personal income will
grow slightly. Retail trade is expected to increase
a modest 1.5%. &l...
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