Colorado economists warn about recession, complicating spending fight
The Denver Post
The severe downturn in the oil and gas industry, combined with global economic pressures, led state economic analysts on Friday to caution Colorado lawmakers about the looming possibility of a recession.
The warning represented a milestone, after years of positive news as the state surged out of the Great Recession, and further complicates the ongoing battle at the Capitol concerning the $27 billion state budget.
Legislative Council economist Larson Silbaugh told lawmakers that the state’s economy expanded through the first half of 2015 but slowed toward the end, a trend that continued into this year as energy prices continued to decline. The severe downturn in the oil and gas industry, combined with global economic pressures, led state economic analysts on Friday to caution Colorado lawmakers about the looming possibility of a recession.
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