Oregon's Economy Continues to Weaken, Says U. of Oregon Index of Economic Indicators (And That Was BEFORE the Events of the Last Few Weeks)

Please note that this writer is not licensed to practice law in Oregon. This means that he is not legally permitted to give any legal advice or perform any legal services. This Bulletin and the entire contents of this website is written only for attorneys. and is not intended for the public. If any non-attorney is reading this, you must consult an attorney about ANYTHING you read here. Nothing in this website is intended to be nor should be read as being legal advice to anyone.

By Andrew Toth-Fejel, Bankruptcy Litigation Support for Attorneys, Andy@BLSforAttorneys.com

The Oregon Economic Forum announced last week that the University of Oregon Index of Economic Indicators fell in August 2008 by 0.8% to 100.3 (100.0 = 1997 benchmark). That index is down from 102.4 six months earlier in February, down from 103.1 a year earlier in August 2007, and down from 106.8 & 106.2 two and three years earlier, in August 2006 and 2005, respectively.

This index had climbed steadily after May 2003, starting from a low then of about 98.1, and reached a peak of about 103.9 in the summer of 2006. The index plateaued at between 103 and 104 for an extended time, from about the winter of 2005-2006 to the fall of 2007, and has been falling generally since then, although with occasional month-to-month increases, including two of the eight months of 2008.

The index combines eight indicators:

Oregon Initial Unemployment Claims
Oregon Residential Building Permits
Oregon Help-Wanted Advertising
Oregon Weight Distance Tax
Oregon Total Non-farm Payrolls
Univ. of Michigan U.S. Consumer Confidence
Real Manufacturers’ New Orders for Non-defense Non-aircraft Capital Goods
Interest Rate Spread, 10-Year Treasury Bonds Less Federal Funds Rate (the difference between short-term and long-term interest rates)

Of these, in August only U.S. consumer confidence improved. Payrolls reduced by 7,400 employees. Initial unemployment claims rose while help-wanted advertising in Oregon newspapers declined. Residential building permits and orders for capital goods declined.

by: Andrew Toth-Fejel
Bankruptcy Litigation Support for Attorneys
Andy@BLSforAttorneys.com

Please note that this writer is not licensed to practice law in Oregon. This means that he is not legally permitted to give any legal advice or provide and legal services. This Bulletin and the entire contents of this website is written only for attorneys. and is not intended for the public. If any non-attorney is reading this, you must consult an attorney about ANYTHING you read here. Nothing in this website is intended to be nor should be read as being legal advice to anyone.

© 2008 Bankruptcy Litigation Support for Attorney