"The metro area is experiencing some positive gains in consumer confidence and retail sales," notes the chamber's consulting economist, Patricia Silverstein of Development Research Partner. Silverstein authors the report.
"However, on an annual basis only four indicators are moving in a positive direction, demonstrating that the Denver metro economy still needs to achieve more consistency in its performance before the recovery may begin."
Retail sales were one of the bright spots. For the second consecutive month, retail sales were greater than the same period in 2002. Total retail sales increased to $5.2 billion in May, up from $4.8 billion in April and $4.9 billion in May 2002. However, the year-to-date total for the metro area is down 0.1%.
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