URI professor says flooding could slow economic momentum

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WHAT: Prior to the April flooding, Rhode Island’s economy was gaining momentum, allowing residents to begin visualizing an end to the current recession, which has lasted more than two-and-half years.


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


WHEN: For release today, April 12, 2010


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 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.