URI economist’s index rises to highest level since 2007

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WHAT: Rhode Island’s economy appears to have burst out of the rut it had been stuck in sine mid-2007 when this recession began. The Current Conditions Index for June rose all the way to 42, its highest level since June of 2007, as five indicators improved. Rhode Island has been able to maintain its short-term economic momentum, allowing the process of recovery to continue.


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


WHEN: For release today, August 7, 2009


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.


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