Oregon’s Office of Economic Analysis says the state’s economy could go two ways in coming years — slow growth or recession.

The risk of a recession is increasing as the probability of a soft landing fades. Inflation has proven to be more persistent than expected, and has broadened its reach beyond goods into the services sector. Yet at the same time, employers are still adding jobs and industrial production continues to trend up. Personal income and spending are also on the rise, although barely outpacing inflation. The economy is at a crossroads, and the latest forecast from Oregon’s Office of Economic Analysis acknowledges it could go either way: continuing but slowing growth, or a full-fledged recession.

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