WHAT: Rhode Island’s third-quarter economic performance appears at first glance to be disappointing, as the Current Conditions Index fell from its highest value for the year thus far – 83 in July, to 67 in August, then down to a barely expanding value of 58 in September. While statistically this appears to reflect a clear weakening in Rhode Island’s third-quarter economic momentum, a closer, more in-depth look reveals that things are not necessarily as weak as one would conclude by merely focusing on the overall CCI numbers.
WHO: URI Professor of Economics Leonard Lardaro, creator and author of the Current Conditions Index.
HOW: Use attached information, including summary and charts prepared by Lardaro for news reports. He is available for broadcast and print interviews. Lardaro will be blogging about the new labor data during the coming weeks. You can find his discussion and charts at http://rieconomy.blogspot.com. Additional information and historical data available online: http://www.llardaro.com/current.htm
FOR INFORMATION: Leonard Lardaro, office 401-874-4128, home 401-783-9563. Dawn Bergantino, URI Department of Communications and Marketing, 401-874-4147.
BACKGROUND: The Current Conditions Index, created by Lardaro, measures the strength of the present economic climate in Rhode Island by following the behavior of 12 indicators.