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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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References:

Colorado Business Economic Outlook, pages 12 & 15, University of Colorado Boulder Leeds School of Business, accessed in April 2025.

Colorado’s economy set the pace for years; now it is playing catch up, The Denver Post, Dec. 9, 2024.

Gross Domestic Product by State and Personal Income by State, 4th Quarter 2024 and Preliminary 2024, Bureau of Economic Analysis, Mar. 28, 2025.

Gross Domestic Product by State and Personal Income by State, 3rd Quarter 2024, Bureau of Economic Analysis, Dec. 20, 2024.

Type of Story: Fact-Check

Checks a specific statement or set of statements asserted as fact.

Por recently graduated from CU Boulder with a master’s degree in journalism and is interested in writing about the environment and exploring local stories. When not working on some form of writing, Por is either looking for Thai food or petting...