Thursday, April 05, 2012
Economic activity in Oregon strengthened again in February, according to a University of Oregon index.
Calling it a positive report, Tim Duy, author of the index, said that most of the indicators the index tracks improved during the month.
Initial unemployment claims backed down after they spiked in January. Core manufacturing orders recovered some of the ground lost in the previous month. The weight distance tax, a measure of trucking activity, rebounded to its highest level since October. Consumer sentiment continued to rebound and residential building permits held steady.
“We’re going to get some more housing activity this year statewide,” Duy said. “We’re starting to see more activity here locally in the multifamily categories at least. Eventually we’re going to have to build houses again, or apartments, one of the two.”
Read more at The Register-Guard.