Government data offers valuable insights into a state's economy. Oregon's economy ranks 24th in size among states and Washington, DC. Explore this page to learn about the state's economic growth, job market, and economy size, backed by data from reputable sources like the Bureau of Economic Analysis and the Bureau of Labor Statistics.
Is Oregon's economy growing?
Real gross domestic product (GDP) growth
In the 3rd quarter of 2023, the real GDP growth rate for Oregon was 4.8% per year, compared with 1.7% the previous quarter.
The latest data shows that Oregon economic growth is lower than the US overall.
Gross domestic production (GDP) estimates the size of an area’s economy. It is the total value of all goods and services produced in an area. It includes the total dollar amount of consumption (products like cellphones and bread), government spending (on things like infrastructure and the military), business investment (a manufacturer building a new factory), and the net effect of trade (subtracting imports from exports). The Bureau of Economic Analysis calculates the GDP.
Most economists are interested in the rate of growth. Growth in the inflation-adjusted GDP (or “real GDP”) tends to signal a positive economic outlook, while slowing growth may mean a recession is coming.
Economic growth trends may differ as each state has a different mix of workers and industries.
Economic growth by industry
In the 3rd quarter of 2023, the real GDP growth rate for retail trade in Oregon was 23.1% per year, the highest in the state.
The economic impact of industries is based on a concept of “value-added” to the goods or services created based on their work. The Bureau of Economic Analysis provides the relevant economic data.
