Wednesday, December 3, 2008
UO index finds recession-like conditions
Portland Business Journal
The University of Oregon Index of Economic Indicators fell sharply in October to 90.2, a 0.7 percent decline from the previous month.
Compared to six months ago, the UO Index is down 8.0 percent on an annualized basis.
The university's College of Arts and Sciences, which produces the index, said indicators pointed to widespread weakness: five of the seven variables declined from the previous month, while only one, the interest rate spread, improved. The remaining indicator, Oregon building permits, remained unchanged.
The college said the index indicates that, like the nation as a whole, recession-like conditions in Oregon intensified in October.
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