Below is the University of Oregon Regional Economic Indexes for September 2018. The release date is today November 15, 2018. We thank KeyBank for their generous support of this project.
Oregon Regional Economic Indicators:
Oregon’s major metropolitan areas continue to enjoy the benefits of what looks likely to become a record-breaking economic expansion by next summer. Highlights of this month’s report include:
- For all regions covered by this report, the moving average measures (which smooth monthly volatility) were above zero, indicating an above-trend pace of activity (trend activity differs across regions) in September.
- Some unusually weak employment components dragged down the Rogue Valley measure, but this likely reflects temporary volatility in the data.
- Housing activity slowed noticeably in recent months. Housing units permitted slowed to neutral or negative contributions in all regions. Residential housing sales continue to contribute positively in most regions, although the magnitude of the contributions have declined.
- Employment components weakened in September as job growth slowed, but low levels of initial jobless claims and low unemployment rates still point to a healthy job market going forward.
- There is no indication in the data that the current expansion is likely to end anytime soon.
Tim Duy – 541.346.4660 (w)