The newest UO Index of Economic Indicators shows that all seven of its state and national indicators improved in December.
The newest UO Index of Economic Indicators shows that all seven of its state and national indicators improved in December.
Tim Duy, the economist who prepares the index, says the results are a sign of good things to come for Oregon’s economy.
“It’s as if the economy, instead of firing on three or four cylinders, started firing on five, six or seven cylinders” at the end of last year, Duy said. “I’m much more optimistic than I would have been three months ago.”
Duy said in his monthly report that the UO index has completely reversed last summer’s losses, “alleviating concerns of a double-dip recession.”
Oregon has been more sensitive than the nation to economic fluctuations, he said. When U.S. job growth increases 1 percent, Duy said, Oregon’s growth rises 1.5 percent. The reverse is also true, he said, as Oregon tends to lose more as U.S. jobs decline.
Read more at OregonLive.com.
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