Oregon Economic Indicators Edge Higher

By Kristian Foden-Vencil | April 8, 2010 4:54 p.m. | Updated: June 16, 2010 11:56 p.m. | Portland, OR

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Oregon's Index of Economic Indicators rose three-tenths of a percent in February. The increase shows Oregon's economic recovery remains intact. But the pace of improvement appears to have slowed a little compared to the five previous months. Figures show February had declines in initial unemployment claims and the pace of layoffs appeared to be moderating.But new hiring was tepid. So, despite the improvement in economic conditions, job growth remained elusive.Residential construction permits continued to rise - as building activity bounced off the lows reached during 2009. But permits remained about 70 percent below levels reached during the bubble.Oregon's trucking activity also fell after three months of gains. But it too remained well above the lows of the recession.Consumer confidence among Oregonians flattened out in February, although there were signs that national consumer spending accelerated in the first part of this year.

© 2010 OPB

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