The Leeds Business Confidence Index (LBCI) Q3 2026
Business leader confidence remained pessimistic heading into Q3 2026. Panelists were asked to provide reasons for their expectations ahead of Q3 2026. The most frequently cited reason was inflation, interest rates, and general cost pressures, mentioned by 35% of panelists. This was followed by political and policy instability (34%) and geopolitical events and global conflict (23%). Many of these concerns are closely interconnected. Inflation, geopolitical conflict, and broader economic uncertainty reinforce one another, contributing to continued business pessimism.
The Leeds Business Confidence Index (LBCI) captures Colorado business leaders’ expectations for the national and state economy, industry sales, profits, hiring, and capital expenditures. The index increased 1.3 points from Q2 2026 to Q3 2026. All six components of the index increased from Q2 to Q3, and all components were up when compared to Q3 2025. Although every component improved from the previous quarter, each remained below the neutral value of 50, indicating that business leaders continue to hold pessimistic expectations despite modest gains. The largest increases in the index from Q2 to Q3 2026 were in the national and state economies, while the highest index levels were recorded in sales and profits. The index increased from 41.9 reported last quarter to 43.2 in the current survey while confidence remained essentially unchanged looking ahead to Q4 2026.
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