The Oregon Biz Report - Business News from Oregon

Read about accutane journal moderate acne here

Oregon shows signs of widespread improvement

February 9, 2012

Tim Duy
Oregon Economic Forum
University of Oregon

Highlights of the report include:

– Economic activity rebounded in Oregon in the final month of 2011. A sharp increase in the Oregon Measure of Economic Activity from -1.11 to -0.28 – close to the average growth established over the 1990-2011 period – pulled up the three-month moving average to -0.80. The University of Oregon Index of Economic Indicators™ gained 0.7 percent in December, rising to the highest level since July.

– The manufacturing and services sectors all made positive contributions to the measure of economic activity, while the construction and household sectors remain a drag. Note the two employment components of the construction sector were positive. Residential building permits remain weak.

– Improvement in the UO Index of Economic Indicators was widespread; none of the components deteriorated during the month. Residential building permits were effectively flat during the month and, while at low levels, remain above the recent low of last August.

– Mirroring national trends, initial unemployment claims dropped again to their lowest level since February 2008. This is a hopeful sign that conditions are improving to the point at which employment growth will accelerate. Relatedly, employment services payrolls edged up, suggesting that an upward demand for new hires.

– Compared to six months ago, the UO Index has fallen 2.6 percent (annualized), an improvement compared to the previous month. This brings the decrease above the -2.75 percent mark that has been associated with Oregon recession in the past. This suggests room for optimism regarding the forecast for 2012; the decline in the UO Index this past fall may prove to have been a “false” recession signal.

Print This Post Print This Post    Email This Post Email This Post

Discuss this article

Larry February 15, 2012

If economic activity is improving, then why are the State financial revenue forecast estimated to decrease?

Leave a Reply

Your email address will not be published. Required fields are marked *

Please answer the following question to confirm that you are a real person: *

Top Business News


Top Natural Resource News


Top Faith News


Copyright © 2018, OregonReport. All Rights Reserved. | Terms of Use - Copyright - Legal Policy | Contact Oregon Report

Stay Tuned...

Stay up to date with the latest political news and commentary from Oregon Business Report through daily email updates:

Delivered by FeedBurner

Prefer another subscription option? Subscribe to our RSS Feed, become a fan on Facebook, or follow us on Twitter.

RSS Twitter Facebook

No Thanks (close this box)