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Oregon's economy sees temporary stall

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Friday, December 06, 2013

Oregon's economy slipped in October, but is expected to get back on track.

“The economy has continued to grow at an average pace through the fall, and looking into next year I’m reasonably optimistic that the path of activity is going to strengthen somewhat,” [University of Oregon economist Tim Duy] said.

A combination of factors contributed to the index’s first stumble since September 2012: a drop in employment services payrolls; declining residential building permits compared with recent months, which may reflect softening in the housing market because of higher mortgage rates; falling core manufacturing orders and trucking activity; and a slide in consumer confidence tied to uncertainty about the temporary shutdown of the federal government.

Read more at The Register-Guard.

 

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