WHAT: Rhode Island began its second quarter of the year on a cautionary note. Although economic momentum is down, April’s performance did show some positive elements. Of continuing concern is that the negative elements continue to gain in relative importance. The Current Conditions Index for March was revised from its neutral value of 50 back into the expansion range of 58. That same value was sustained for April. However, the CCI has now failed to improve relative to its year-earlier value for 11 consecutive months.
WHO: URI Professor of Economics Leonard Lardaro, creator and author of the Current Conditions Index.
HOW: Use attached information, including summary and charts prepared by Lardaro for news reports. He is available for broadcast and print interviews. Lardaro will be blogging about the new labor data during the coming weeks. You can find his discussion and charts at http://rieconomy.blogspot.com. Additional information and historical data available online: http://www.llardaro.com/current.htm.
FOR INFORMATION: Leonard Lardaro, office, 401-874-4128, home, 401-783-9563.
Dawn Bergantino, URI Department of Communications and Marketing, 401-874-4147.
BACKGROUND: The Current Conditions Index, created by Lardaro, measures the strength of the present economic climate in Rhode Island by following the behavior of 12 indicators.