December marked another month of positive economic gains in Oregon, with improvements in every major category tracked by the University of Oregon Index of Economic Indicators.
The index rose 2.7 percent in December to 90.5, the third consecutive monthly gain. The index has a benchmark of 100 set in 1997. Compared to six months ago, the index is up 3.5 percent.
Among the positive month-over-month gains in December:
- Initial unemployment claims fell to 8,237 — their lowest level since April 2008 — from 10,042.
- Employment services payrolls — largely temporary-help workers — were up to 31,452 from 30,499, a signal that firms are looking to boost hiring as the economy improves.
- Residential building permits rose to 709 from 564.
- Non-defense, non-aircraft capital goods orders rose to 41,228 from 40,730.
- Consumer confidence was up to 70.2 from 68.8.
- The interest rate spread between 10-year treasury bonds and the federal funds rate widened to 3.11 from 2.57, a signal of investor confidence in the U.S. economy.
December's strong showing combined with positive trends for national economic indicators has alleviated concerns of a double-dip recession, according to the index. And the gains in new orders suggest that business investment spending will accelerate this year.
Read more: Oregon economy marches upward | Portland Business Journal
MB Tax Pro
David Bixel
Erin Murphy
Portland Oregon
97210
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