July 2019 Oregon Regional Economic Indicators

Good morning. Below is the University of Oregon Regional Economic Indexes for July 2019. The release date is September23, 2019. We thank KeyBank for their generous support of this project.

Note: We have been experiencing some technical difficulties with our subscription service. Consequently, you may not have received a notice when the statewide economic indicators were release earlier this month. Click here to view that release.

Oregon Regional Economic Indicators:

Regional areas generally experienced solid economic activity in July. Highlights of this month’s report include:

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• Although many areas are off their peak growth rates experienced earlier in the cycle, there is no indication that they are decelerating at a worrisome pace.
• For all regions covered by this report, raw and moving average measures (which smooth monthly volatility) were above zero, indicating an above-trend pace of activity (trend activity differs across regions).
• Housing data revealed a familiar pattern that has become the norm in the post-recession period. Housing sales remain solid across regions; in most case sales have rebound from a period of weakness late last year and early this year.
• Still, only the Portland and Central Oregon regions regularly generate enough housing permits to support a positive contribution to the measures. In other areas, new housing activity remains below levels traditionally experienced in an expansion.
• Employment components have been mixed. Although job growth has slowed, unemployment rates remain very low and still make significant positive contributions to the measures.
• Waste collection (where available) also made positive contributions to regional indexes; rising waste typically increases with rising populations and greater economic activity.

Media Contacts:
Tim Duy – 541.346.4660 (w)