Good morning. Below is the University of Oregon Regional Economic Indexes for March 2019. The release date is May 21, 2019. We thank KeyBank for their generous support of this project.
Regional measures of economic activity were again mixed in March as job growth slowed in most metro areas. Highlights of this month’s report include:
- For all regions covered by this report, raw and moving average measures (which smooth monthly volatility) were above zero, indicating an above-trend pace of activity (trend activity differs across regions).
- The February decline in the Portland area measure was revised upward into positive territory. The region, however, is exhibiting signs of slower growth in the form of softer jobs numbers, housing sales, and home prices. New home construction activity has picked up.
- Similar factors are weighing on the Eugene and Central Oregon measures. The latter region has experienced an uptick in initial unemployment claims in recent months; note that national claims data has been volatile lately as well, although this bears watching to see if develops into a broader trend.
- The Salem area measure remains solid while the Rogue Valley has firmed in recent months.
Tim Duy – 541.346.4660 (w)