Good morning. Below is the University of Oregon Regional Economic Indexes for June 2019. The release date is August 19, 2019. We thank KeyBank for their generous support of this project.
Oregon Regional Economic Indicators:
Regional economies experienced continued economic growth in June. 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 Central Oregon measure has slowed markedly this year, although it remains above zero. Job growth in the region has fallen from a high of over 7% year-over-year in 2015 to 1.5% in June of this year while initial unemployment claims have ticked up.
- The Portland area and Eugene-Springfield measures have not softened as much as Bend, while the Salem and Rogue Valley measures have held up well in recent months.
- The housing market is generally solid with home sales still contributing positively to the measures of activity. Housing sales and home price appreciation in the Portland area, however, have slowed; the latter factor is creating a small negative contribution to the index.
Tim Duy – 541.346.4660 (w)