URI economist: R.I.’s ‘recession performance continues’

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WHAT: Rhode Island ended 2007 on a bittersweet note. While the Current Conditions Index improved from its recent low values, it remained in the declining range. The Current Conditions Index for December was 42 – in the contracting range for the fifth consecutive month. Rhode Island may well have begun the transition from the early to middle recession stages as 2007 ended.


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


WHEN: For release today, Feb. 11, 2008


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

Dave Lavallee, URI Department of Communications, 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.