URI economist fears slowdown in growth for rest of year

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WHAT: As the third quarter progresses, there is good and bad news about the performance of Rhode Island’s economy. The good news is that the July Current Conditions Index’s value was revised higher, from 75 to 83. The bad news is that the index August declined to 67, as only eight of 12 indicators improved relative to their values one year ago. Furthermore, August was only the second month this year for which the CCI failed to exceed its year earlier value. The index for August 2012 was 92.

WHO: URI Professor of Economics Leonard Lardaro, creator and author of the Current Conditions Index.

WHEN: Sunday, October 13, 2013

HOW: Use attached information, including summary and charts prepared by Lardaro for news reports. He is available for broadcast and print interviews. The new information and other historical information can also be found on Lardaro’s web site at http://www.llardaro.com/current.htm. 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.

Available Online: http://www.llardaro.com/current.htm (NEW URL) Blog: http://rieconomy.blogspot.com

FOR INFORMATION: Leonard Lardaro, office, 401-874-4128, home, 401-783-9563

Dave Lavallee, URI Department of Communications and Marketing, 401-874-2116.

BACKGROUND: The Current Conditions Index, created by Lardaro, measures the strength of the present economic climate in R.I. by following the behavior of 12 indicators.