Monthly Economic Indicators

This monthly report provides a snapshot of metro area economic activity in labor and employment, the consumer sector, and residential and commercial real estate.

March 2015 PDF Download Snapshot

Monthly Economic Indicators

Colorado is included in the Mountain Region Index and the area reported slight declines in consumer confidence. The index fell to 104.4 in February from the January revised level of 111.5, falling 6.4 percent over-the-month, but was up 30.8 percent over-the-year.

The Denver-Boulder-Greeley consumer price index increased 2.8 percent in 2014, 1.3 percentage points faster than the national average. Prices for education and communication, housing, food and beverages, medical care, transportation, and recreation rose more quickly in the Denver-Boulder-Greeley area than the U.S. in 2014.

A National Association of Realtors report revealed that median home prices throughout Metro Denver declined between the third and fourth quarters of 2014 in a typical seasonal pattern. For the year, the Boulder MSA median home price increased 5.1 percent from 2013 to 2014 and 10.5 percent in the Denver-Aurora MSA.

Economic Indicators March 2015 2015 YTD

Nonfarm Employment Growth

+3,400 Increase

Employment up 0.2% from Nov. to Dec.

+41,500 Increase

YTD employment up 2.8% through Dec.

% Companies Hiring (Denver Area)

20 % Decrease

Companies expecting to add workers decreased from 4Q 2014 to 1Q 2015

20 % Increase

YTD average up 2 percentage points compared with 2014

Unemployment Rate

3.8 % No change

Unemployment unchanged Nov. to Dec.

4.9 % Decrease

Down from 2013 YTD average of 6.5%

Initial Unemployment Insurance Claims

-11.4 % Decrease

Claims decreased from Nov. to Dec.

-12.9 % Decrease

YTD average claims decreased through Dec. 2014

Total Retail Sales

6.2 % Increase

Metro sales increased from Apr. to May

3.4 % Increase

YTD sales up through May 2014

Consumer Confidence Index

104.4 Decrease

Index down 6.4% from Jan. to Feb.

108 Increase

YTD average up 39% through Feb. 2015

Hotel Occupancy

65.9 % Increase

Increased 7.6 percentage points from Dec. to Jan.

65.9 % Decrease

YTD occupancy down 0.5 percentage points from last year

DIA Passengers

9.1 % Increase

Passengers increased from Nov. to Dec.

1.7 % Increase

YTD passengers increased through Dec. 2014

Bloomberg Colorado Index

611.6 Increase

Index up 2.9% from Jan. to Feb.

1.8 % Increase

YTD return through Jan. 2015

Dow Jones / Industrial Average

18,132.7 Increase

Index up 5.6% from Jan. to Feb.

1.7 % Increase

YTD return through Feb. 2015

Home Sales (Closed)

2,481 Decrease

Sales down 37.5% from Dec. to Jan.

2,481 Decrease

YTD sales down 4.2% through Jan. 2015

Median Home Price (Denver-Aurora MSA)

$314,800 Decrease

Down 0.2% from 3Q 2014 to 4Q 2014

$310,200 Increase

YTD price 10.5% higher through 4Q 2014

Foreclosures

222 Decrease

Down 49.9% from Dec. to Jan.

222 Decrease

Down 58.3% YTD through Jan. 2015

Residential Building Permits (Total)

2,516 Increase

Permits increased 49.8% from Nov. to Dec.

18,866 Increase

YTD permits up 15.7% through Dec. 2014

Apartment Vacancy Rate

4.7 % Increase

Vacancy increased 0.8 percentage points from 3Q 2014 to 4Q 2014

4.6 % No change

YTD average unchanged from 4Q 2013

Office Vacancy Rate (with Sublet)

10.6 % Decrease

Vacancy rate down 0.4 percentage points from 3Q 2014 to 4Q 2014

-1 percentage point Decrease

4Q 2014 vacancy rate down from 11.6% one year ago

Industrial Vacancy Rate (with Sublet)

3.3 % Decrease

Vacancy rate down 0.3 percentage points from 3Q 2014 to 4Q 2014

-0.9 percentage points Decrease

4Q 2014 vacancy rate down from 11.6% one year ago

Retail Space Vacancy Rate (with Sublet)

5.7 % Decrease

Vacancy rate down 0.1 percentage point from 3Q 2014 to 4Q 2014

-0.6 percentage points Decrease

4Q 2014 vacancy rate down from 6.3% one year ago

Economic Indicators March 2015 2015 YTD