Oregon Public Broadcasting

Portland’s economy is recovering at a faster rate than the rest of Oregon.  Although, growth continues to drag in the state as a whole.

That’s the picture emerging from a new roundup of economic indicators put out by the University of Oregon.

The report is essentially a snapshot of economic activities, says Tim Duy, director of the Oregon Economic Forum. 

Duy says Portland’s economy has continued to benefit from its diverse mix of industries such as high tech and manufacturing.

He thinks Portland is recovering more quickly than the rest of state from the collapse of the housing market.

Duy says past growth in places like Bend and in the Rogue Valley had been more dependent on housing and its related industries.

“And it does raise the question of ‘What is the engine of growth in other regions if you take away that housing dynamic?’  And that’s why I think some of these other areas are just having such a slow return.”

Duy expects economic growth to remain slow in the new year.  The economy should add some jobs, he says, but job growth will also be concentrated in the Portland-metro area.