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Friday, Apr. 4, 2025

Was Colorado one of the fastest-growing economies in the US in 2024?

Por Jaijongkit, The Colorado Sun
no

After a period of solid growth, Colorado’s economy slowed in 2024, ranking 39th among states for overall growth in gross domestic product, the total output of goods and services. 

That’s down from a 10th place ranking in 2023, U.S. Bureau of Economic Analysis data shows. The numbers improved during the fourth quarter of 2024, when Colorado was 26th with an adjusted-for-inflation GDP increase of 2.4%.

Between 2008 and 2023, Colorado was among the top states for growth in GDP, personal income, home prices and employment. 

Recent data shows a continuing slowdown in population growth, which can slow growth in the labor force. Experts still expect Colorado to grow, but at a slower pace. The state remained above the national average in job growth and pay, according to the Colorado Business Economic Outlook from December 2024. Eight out of 11 industries reported growth, with natural resources, government and health services among the fastest growing. 

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