A new report out Wednesday says Oregon’s economy is recovering better than many have expected. But it projects that growth to slow over the next few months.
The forecast comes from the Center for Economic Research and Forecasting at California Lutheran University.
Bill Watkins is the Executive Director.
He says the preliminary data show strong growth in the state’s gross domestic product, retail sales and job creation.
Still, he expects the recovery to be slow going.
Bill Watkins: "It’s being held back by, one thing is the real estate sector is not participating and won’t for a while and also small business, which is really where jobs are created."
Watkins says a crippled banking sector has contributed to that, since that’s where most small businesses gain access to capital.
The report projects economic growth in Oregon to slow down to around 2 percent this quarter and pick up again toward the end of the year.