Right before Russia invaded Ukraine, Colorado’s economy was expected to downshift from last year’s unsustainable pace to a slower but still above-average rate in June. But last week’s invasion has thrown financial markets into turmoil.
Given that the 20-year average for state GDP growth in Colorado is 3.25% a year, a growth rate of 4.5% still represents an above-average pace, Resnick said.
More risk-averse bond and stock markets were signaling slower growth rates ahead last month, but Resnick said at the time it was hard to spit out how much of that reflected concerns about the Federal Reserve tightening monetary policy and how much was linked to the troop build-up near the Ukrainian border.COVID-19 cases down significantly
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