URI professor says economic bounce back from bad weather not as strong as expected

Posted on
May 12, 2014

WHAT: The much-anticipated bounce back from the adverse effects of the harsh February weather turned out to be a non-event. While the indicators most obviously impacted by the weather improved as expected, several other indicators were far less accommodating, leaving the March Current Conditions Index stuck at the same value it attained in February, 58. Unfortunately, this extended the string of consecutive months during which the CCI has failed to improve relative to its year-earlier value to eight.

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

WHEN: For release Monday, May 12, 2014

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.