URI economist: R.I. in process of recovery

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WHAT: Compared with May 2008’s discouraging performance, this May is showing signs of hope as our state’s economy registered and sustained monthly improvements in most of the Current Conditions Index indicators. If this monthly momentum continues, expect recovery sometime in the first or second quarter of 2010.

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

WHEN: For release today, July 13, 2009

HOW: Use enclosed 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://members.cox.net/lardaro/current.htm.

FOR INFORMATION: Leonard Lardaro, office, 401-874-4128, home, 401-783-9563 or Jan Wenzel, URI Department of Communications and Marketing, 401-874-2116, wenzel@advance.uri.edu

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.