Economists from the University of Oregon have issued a gloomy forecast for the state’s economic health. They say that indications point to a potential recession. The researchers survey eight indicators, from interest rates to payrolls. In particular, Oregon initial unemployment claims rose in October to the highest level since November 2006, while Residential building permits issued in the state dropped to the lowest level since September 2000.
Economists cautioned that there’s no guarantee that a recession is coming, but they say similar statistics were present before the state spiraled into recession in 2001.
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