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Stocks have been mixed throughout the day today, after the government said the U.S. economy slowed in the first three months of this year. The economy grew at a 1.8% annual rate in the January-March period. That’s the weakest showing since last spring when the European debt crisis reduced growth to 1.7%. Higher prices for oil and gas have constrained consumer spending. Bend financial advisor Troy Reinhart with Northwest Quadrant Wealth Management says high gasoline prices are having an impact: "One of the things we found in the GDP number is that consumers are still spending but instead of buying a new mattress for the home or a new armchair, instead they had to spend it on gas and that is disconcerting. But again oil is being driven more by speculators than it is by actual demand out there. There is still lots of oil out there; demand is not what's pushing it up there’s still uncertainty in the Middle East and speculators.” Reinhart says our economy is getting better, but it doesn't happen overnight. He's also not that concerned about a weekly job claims report that came in at 429,000 new claims. It's the highest since January, but Reinhart believes it’s to be expected as part of our bumpy road to economic recovery.

 

 

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Help Puerto Rico

Most organizations are asking for cash, rather than supplies, so they can route help to where it’s needed most more quickly. Here are some of the largest groups with campaigns underway:

 

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  • Click on the link for the latest conditions on the mountain passes.

 

  • Intersection of NW Broadway Street and NW Delaware for waterline replacement project, road closures with detours clearly marked for thru traffic, 7 a.m. – 4 p.m. daily with roads opened nightly. Motorists are encouraged to avoid this area and use Bond Street and Wall Street.

 

  • Nels Anderson Road between Nels Anderson Place and Brandis Court, single northbound shoulder closure will be in effect, two-way traffic to be maintained. Project completion expected December 2017.