The National Economy
Stocks ended the quarter in the negative range, impacted by rising oil prices and interest rates. (The Denver Post, Apr. 1, 2005).
The manufacturing sector grew at a slower pace for the third consecutive month in February, but economists remain confident that the sector is healthy. (The Denver Post, Mar. 2, 2005).
The Labor Department reported that 262,000 jobs were created in February, more that the 225,000 that were predicted. This was the greatest growth in four months. (The Rocky Mountain News, Mar. 5, 2005).
The Commerce department reported that orders placed with U.S. factories rose 0.2 percent in January on demand for paper, petroleum and electrical equipment. (The Rocky Mountain News, Mar. 5, 2005).
A Federal Reserve study reported that the economy continues to grow and improve. Employment conditions improved, sales were up and factories increased production in February. (The Denver Post, Mar. 10, 2005).
National rates on 30 year mortgages hit their highest levels in five months, due to rising interest rates. (The Denver Post, Mar. 13, 2005).
The Federal Reserve Board raised interest rates yet again on the concern that inflation poses a threat to the economy. (The Denver Post, Mar. 23, 2005).
The Regional Economy
Mortgage rates are rising, but lenders say that the improving Colorado economy and incentives from home builders will keep sales steady. (The Boulder County Business Report, Mar. 18-31, 2005).
The Colorado Department of Labor announced that 27,900 jobs were added in 2004, which was twice as many as initially estimated. (The Denver Post, Mar. 11, 2005).
Colorado gas prices hit record highs above $2.00 per gallon in March. (The Denver Post, Mar. 12, 2005).
Metro Denver home sales are up 55 percent this year over the same period last year. (The Denver Post, Mar. 23, 2005).
Personal incomes for Coloradans rose 4.3 percent last year, lagging much of the nation, but an improvement over the past three years. (The Denver Post, Mar. 29, 2005).
Metro mortgage foreclosures for the first three months of this year are up over 30 percent higher than the same period last year. (The Denver Post, Mar. 30, 2005).
The Local Economy
Accomodations and food service tax collections in Boulder increased 4.5 percent in 2004, indicating increased activity in terms of meetings and group market activity. (The Boulder County Business Report, Mar. 18-31, 2005)
