URI economist says April flooding likely to slow recovery

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WHAT: The Current Conditions Index hit 58 in March, the highest level since May 2007, but improvements in the Rhode Island economy will disappear as the effects of the April flooding overwhelm any short-term cyclical momentum.


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


WHEN: For release May 10, 2010


HOW: Use linked 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 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.