Oregon's economy is on track to grow, but the recovery is still sluggish, the latest University of Oregon economic activity index shows.
The state’s economy picked up slightly in October, fueled by a drop in initial jobless claims and a gain in building permits. But economic weakness internationally and the possibility of tighter U.S. fiscal policy threaten next year’s forecast, said economist Tim Duy, author of the index.
“Some of the pessimism about the cliff might be working its way into the public mind a little bit more,” Duy said. “Whether or not that translates into changes in spending, though, I think is a different question. I think that the fiscal cliff will impact spending if the fiscal cliff becomes reality.
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