State economist gives insight into Oregon’s slowing economic reality

Oregon’s economic activity is declining, population growth is slowing and unemployment is rising — all at a faster pace than the U.S.

While the state’s economy is slowing down, there’s hope for moderate growth in 2026, State Economist Carl Riccadonna told lawmakers this week.

An economic upturn in 2026 is possible as interest rates are on the decline, which usually spurs home buying, business investment and vehicle sales, he said. Tax cuts for businesses from a new law President Donald Trump signed in July will also likely stimulate more economic movement, he said.

A pending U.S. Supreme Court ruling could cut Trump’s tariffs in half, which would be good news for Oregon, Riccadonna said. Oregon is leading the lawsuit challenging the Trump administration’s tariffs. The Oregon Departm