URI economist says October marks first challenge in R.I.’s recovery

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WHAT: After surviving its first test in September, sustaining an expansion reading of 58, October saw the Current Conditions Index fall to 42, a contraction-range reading. October’s Index illustrates just how shallow Rhode Island’s present recovery is.

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

WHEN: For release today Dec. 13, 2010

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 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.