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Summer slows Oregon's economy

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Wednesday, September 12, 2012

Oregon's economy fell this summer, a repeat of the past two summers.

[University of Oregon economist] Duy said that if he had to pick the most worrisome part of the report it would be the slide in new orders for nondefense, nonaircraft goods.

“What that’s telling us is that the global economy is weighing on the national manufacturing sector, and I think that’s going to translate into some softness in Oregon’s manufacturing sector,” Duy said.

The index slid 0.7 percent in July. All but one of the seven indicators tracked by the index, including initial unemployment claims and U.S. consumer sentiment, were flat or worsened from 91.6 in June to 90.9 in July.

Read more at The Register-Guard.

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