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Portland in a Recession, Says Local Consultant

PORTLAND- William Conerly, a local economic and financial consultant, tells the local chapter of the Building Owners and Managers Association that Portland is in a recession that thanks to the terrorist attacks it now might not clear it until mid-2002.

By Brian K. Miller | Updated on September 19, 2001

PORTLAND-Oregon’s economy has fared worse than the national economy and is in a recession it might not recover from until mid-2002, Portland-based economic and financial consultant William Conerly told the local chapter of the Metropolitan Building Owners and Managers Association this week.

It’s only a mild recession, said Conerly, once a member of Governor Kitzhaber’s Board of Economic Advisors, but given the added negative effects of the terrorist attacks it will likely worsen and extend until as late as next June. This of course, is not good news for building owners already facing vacancy rates reminiscent of right around 10 years ago and more space coming to market.

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