Moody’s says some Oregon cities still in recession

By: Nick Bjork//August 31, 2010//

Moody’s says some Oregon cities still in recession

Nick Bjork//August 31, 2010//

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Oregon is one of 41 states considered in economic recovery by , but some areas are still in recession.

The cities of Portland, Corvallis and Eugene are considered in recovery, while Bend and Medford remain in recession. While recovery in Oregon’s most populated cities is a good sign for the state economy, the report indicates that a delayed housing correction poses a threat to an official recovery for the state.

Salem is the only area in the state considered at risk of a double-dip recession. The report shows that the city’s low per-capita income combined with a dependence on old-line timber, food processing and agriculture has it at risk to dip deeper into a recession.

States still in recession include Nevada, New Mexico, Michigan, Mississippi, Georgia, Illinois, West Virginia, Vermont and Rhode Island, according to the report.

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