The economic outlook for the Denver metro area is looking towards growth in 2012.

Employment is expected to increase by 1.1%, which means about 15,000 new jobs will be added in the Denver metro region in 2012, according to Patricia Silverstein President of Development Research Partners.

National growth for 2012 is expected to be 1.8 percent according to the International Money Fund (IMF). Projected growth for 2013 for the U.S. is 2.2 percent. "Some countries, notably the United States and Japan, need to clarify their plans to reduce debts and deficits in the years ahead." said the IMF.

"Consumers are the largest drivers of our economic structure," says Silverstein, "and consumer activity represents 70% of our economy. They are spending a little bit more, their investment portfolios are increasing a little bit and the housing market is solidifying so that's helping consumers feel a little wealthier."

Experts in Colorado track the eight strongest industry clusters to determine the economic outlook, including healthcare, energy, aerospace, and IT technology.

Watch the video at cobizmag.com

photo credit: Charlotte Gilhooly

Posted in Marketing, Real Estate Market Conditions

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