URI economist’s index hits highest mark since 2003

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11 of 12 indicators show improvement


WHAT: The Current Conditions Index rose all the way to 92, its highest level since November of 2003. It is now abundantly clear that Rhode Island’s economic performance during the fourth quarter was its strongest in terms of overall momentum for quite some time. The sole indicator that failed to improve was government employment, which reflects the effects of fiscal consolidation.


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


WHEN: For release today, Feb. 12, 2013


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://www.llardaro.com/current.htm. 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.


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.