The U.S. economy continued to improve in December, with the Dow Jones average rising above 10,000 and NASDAQ topping 2,000; neither had topped that milestone since early 2002. (The Denver Post, Dec. 10, 2003).
The recent rise in mortgage rates has slowed refinancing and now the mortgage companies are downsizing in order to compensate. (The Denver Post, Dec. 10, 2003).
Retail sales rose 5.5% in 2003, the best growth since 2000. (The Denver Post, Dec. 31, 2003).
Regionally, the University of Colorado forecasted that the job drought should end next year, as the national recover continues to mount. CU predicts a 1.5% gain in jobs in 2004, in conjunction with a moderate recovery in the state. (The Denver Post, Dec. 16, 2003). The jobs will be well-received, as Colorado lost jobs in November, as opposed to the national trend of job growth. (The Rocky Mountain News, Dec. 20, 2003).
In other regional news, Colorado stocks climbed to a three year high, led by Forest Oil, UGC Europe Inc., and St. Mary Land & Exploration Co. (The Rocky Mountain News, Dec. 20, 2003).
For the second consecutive quarter, the Boulder County Leading Economic Indicator increased, leading expections for further economic improvement in the first quarter of 2004. (Boulder County Business Report, Dec. 26-Jan. 8, 2004).
