2012beof-111206092256-phpapp02

Metropolitan gdp is expected to increase by less than

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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 Heading? 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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