WHAT: While 2008 has been a very difficult year for Rhode Island’s economy, the second quarter began with signs of possible improvement ahead. The Current Conditions Index for April rose to 17 from its recurring value of 8 for January through April. However, April’s value of 17 shows that the recession is continuing. Fifty is a neutral value for the index; anything higher than 50 reflects expansion, anything below reflects decline.

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

WHEN: For release today, June 16, 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.

FOR

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.