Tuesday, December 14, 2010

Portland-Area Business Index

Following up on last week's Business Index for Central Oregon, the UO released this week the Index for the Portland Metro Area.

The Portland Metro Area Business Index declined somewhat from the second quarter to the third quarter of 2010. The Index was also down from the third quarter of 2009.

"The uneven pace of improvement over the past year can be attributed to the tax credit induced gyrations in the housing market. With those tax credits now expired, the housing market should stabilize, albeit at a low levels relative to the housing bubble period."

Among the individual economic indicators:
  • Unemployment claims were up and non-farm employment was down
  • Lodging revenues declined but were "above recession levels"

More info is available in the full news release.

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