URI economist: Rhode Island’s economy remains moribund

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July’s Current Conditions Index shows contracting economy

WHAT: Rhode Island’s economic woes continued unabated in July, as the Current Conditions Index rose from its all-time low of zero in June to 17 in July. A value of 50 is neutral. Anything above 50 signifies expansion while anything below signifies retraction. 2008 is proving to be the worst year statistically of any for which CCI values have been calculated. Rhode Island has been in a recession for almost a year.

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

WHEN: For release today, Sept. 15, 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.


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.