DENVER (AP) — Federal data shows that Colorado’s economy grew last year by 2 percent, its slowest rate since 2011.
The U.S. Bureau of Economic Analysis data shows that growth slowed even further during the second half of the year to 1.1 percent.
The biggest drags on the economy were rental real estate, agriculture and manufacturing. The biggest economic contributors were health care, professional services and retail trade.
Colorado’s 2 percent gross domestic product increase still ranked 13th among states and was higher than the 1.5 percent national increase in GDP in 2016.
The Denver Post reports that momentum appears to be returning in 2017. Front Range rents are rising, the unemployment rate has dropped to 2.6 percent and oil and gas activity is increasing.