The Leading Economic Index (LEI) jumped 0.3% in March, after being up 0.7% in February and 0.8% in January. This index shows a picture of future economic health. This shows little reason to expect a recession over the next 12 months. Year over year, this index is up +6.2%, well above the negative year-over-year signal that has preceded every recession going back to the early 1970s.
Portland’s ESCO Corp has sold to the Scottish Weir Group for $1.29 billion. ESCO makes equipment for surface mining and construction. Weir said the deal will improve its presence in those markets. The privately held ESCO employs about 3,000 people, including 350 in Portland. ESCO's sales totaled $632 million last year. ESCO has 10 factories, six foundries and 22 service centers in 19 different countries. (OregonLive)
The craft beer market may have reached maturity. Bend's Deschutes Brewery has announced that it would delay, and possibly scale back development of its east coast brewery in Roanoke, Virginia. In explaining the decision, Deschutes pointed to a dip in sales last year, following a softening beer market generally. (EagerLaw)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.