March 2018 Oregon Regional Economic Indicators

Good morning.  Attached is the University of Oregon Regional Economic Indexes for March 2018.  The release date is today, May 29, 2018. We thank KeyBank for their generous support of this project.

Oregon Regional Economic Indicators:

The ongoing economic expansion continues to lift activity in Oregon’s major metropolitan areas. Highlights of this month’s report include:

View full report with charts here…

  • For all regions covered by this report, both raw and moving average measures (which smooth monthly volatility) were solidly above zero in March, indicating an above-trend pace of activity (trend activity differs across regions).
  • New home construction continues to be mixed overall, with positive contributions in the Portland and Bend regions but nearly neutral to negative in other areas. Housing sales are solid in all areas.
  • The Eugene-Springfield measure has retreated from an unusual spike in January though remains at a level consistent with previous expansions. Low unemployment rates supported all measures. In contrast, weak labor force growth was a negative factor, although this is likely temporary.
  • Low initial unemployment claims also continue to be a supportive factor for these measures and indicate job growth is likely to remain positive for the foreseeable future.

Media Contacts:
Tim Duy – 541.346.4660 (w)

March 2018 Oregon Statewide Economic Indicators

This is the University of Oregon State of Oregon Economic Indicators for March 2018. The release date is May 7, 2018. Special thanks to our sponsor, KeyBank.

Link to full report here.

The Oregon Measure of Economic Activity rose in March to 1.01 compared to a downwardly revised February reading of 0.61. Highlights of this month’s report include:

  • The moving average measure, which smooths out the volatility, slid to 1.09, well above average. (“zero” indicates average growth over the 1990-present period) but cooling somewhat compared to the run-up at the end of 2017.
  • The construction sector made a modest negative contribution to the measure, weighed down by weaker employment components; new housing units permits made a nearly neutral contribution. A softer stock market compared to last year has reduced the contribution from that sector to nearly neutral. Consumer sentiment, however, continues to add positively to the measure.
  • The University of Oregon Index of Economic Indicators gained for a fourth consecutive month, rising 0.4 percent. Initial unemployment claims continue to bounce along sideways at very low levels consistent with economic expansion and ongoing job growth.
  • Trucking activity as measure by the Oregon weight distance tax continues to rise, reaching a new cycle high and indicating gains for Oregon’s traded-sector economy.

Together, these indicators suggest ongoing growth in Oregon at an above average pace of activity.

Media Contacts:
Tim Duy – 541.346.4660 (w)

February 2018 Oregon Regional Economic Indicators

Good morning. Below is the University of Oregon Regional Economic Indexes for February 2018.  The release date is today, April 23, 2018. We thank KeyBank for their generous support of this project.

Willamette Valley Oregon Economic Forum

Join us Thursday May 10, 2018 in Salem when we partner with SEDCOR for our exciting new event!

 

Oregon Regional Indicators

Oregon’s largest metropolitan economies remain strong as the expansion approaches its ninth year. Highlights of this month’s report include:

Link to full report here.

  • For all regions covered by this report, both raw and moving average measures (which smooth monthly volatility) remained above zero in February, indicating an above-trend pace of activity.
  • New home permits made negative contributions in the Eugene-Springfield and Salem regions; in general, new housing construction continues to disappoint outside of the Portland metro and Bend areas.
  • Broad labor market indicators – the unemployment rate, labor force growth, and initial unemployment claims – all remain consistent with very strong labor markets that will likely continue to support ongoing job growth.
  • Home prices continue to rise; the Portland Case-Schiller measure of home prices for Portland made a substantial positive contribution (similar data on a monthly basis is not available for other regions).

Media Contacts:
Tim Duy – 541.346.4660 (w)

 

February 2018 Oregon Statewide Economic Indicators

This is the University of Oregon State of Oregon Economic Indicators for February 2018. The release date is April 10, 2018. Special thanks to our sponsor, KeyBank

Willamette Valley Oregon Economic Forum

Join us Thursday May 10, 2018 in Salem when we partner with SEDCOR for our exciting new event!

 

Oregon Statewide Indicators

The Oregon Measure of Economic Activity edged downward in February to 1.10 compared to a downwardly revised January reading of 1.18. Highlights of this month’s report include:

Link to full report here. Continue Reading