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Rise Seen in Local Consumer Confidence

DENVER-Although retail sales dipped in September, it was less than previous months, experts note, while the area unemployment rate remains steady. Some foresee a strong finish to the year.

By John Rebchook | Updated on December 11, 2002

DENVER-Stronger-than-expected holiday sales and early winter tourism activity hint that local consumer confidence may be returning, according to the Denver Metro Chamber’s December Economic Indicators report. While September figures for all industry retail sales are down 1.0% throughout the Denver metro area, this represents an improvement from the June data that revealed a 2.3% decline for the first half of the year.

In addition, the Colorado stock index increased in October for the first time since March 2002 and the gains continued into November.

“The early ski season, improved retail sales, increased stock market index and steady unemployment rate are all trends that typically feed into improved consumer confidence,” says Chamber economist Patricia Silverstein of Development Research Partners, who compiles the monthly report. “Stronger consumer confidence could help us end the year on a high note.”

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