University of Oregon economist Tim Duy’s Index of Economic Indicators increased by more than two points, year over year, in August, according to a report released Thursday.
The number of initial unemployment claims dropped in August compared to August 2011 — to the lowest level since October 2007, Duy wrote — while the number of residential building permits and the national consumer sentiment increased.
“The UO Index suggests continued economic growth, although that growth is likely to remain somewhat below that experienced in periods of economic expansions in Oregon since 1990," Duy wrote.
