Good morning. Below is the University of Oregon Regional Economic Indexes for November 2018. The release date is today February 14, 2019. We thank KeyBank for their generous support of this project.
Oregon Regional Economic Indicators:
Oregon’s major metro areas generally saw continued strength in November although there were some spots of softer activity. 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).
- New home construction was muted in all areas with near-neutral contributions from the building permits component. Residential housing sales were mixed with the Portland region experiencing a slowdown in home sales (reflected in a modest contribution to its measure of activity).
- The Eugene-Springfield measure again experienced a temporary gain in the waste component associated with the clean-up of a fuel spill in late October and early November; the positive impact will fade in the December numbers.
- Although overall low unemployment supported the measures, in many instances, the employment components made either negative or small positive contributions, a reflection of slower job growth in Oregon in the final quarter of the year.
Tim Duy – 541.346.4660 (w)