DENVER — Friday, March 15, 2019 — The Governor’s Office of State Planning and Budgeting (OSPB) today released its quarterly economic forecast.
Colorado’s economy continues growing, but at a more moderate pace than in 2017 and 2018. A rapidly growing labor force is allowing job growth to continue despite a low unemployment rate. Inflation is mild. Housing price growth and rental rate increases slowed in the second half of 2018 but affordability remains a concern. Commercial lending standards tightened slightly.
Under the forecast, an additional $29.6 million becomes available in the General Fund above the Governor’s budget request for FY 2019-20.