URI economist says first quarter a ‘disappointment’ following momentum from 2nd half of 2010

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Current Conditions Index drops to 58 for March


WHAT: Rhode Island ended the first quarter of 2011 on a down note. The entire first quarter qualifies as somewhat of a disappointment based on the economic momentum the state witnessed during the second half of 2010. The Current Conditions Index dropped from 67 in February to 58 in March, with only seven of 12 indicators improving. Rhode Island’s recovery, now 13 months old, appears to be losing some of its momentum


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


WHEN: For release today April 16, 2011


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://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.