WHAT: Rhode Island’s economy experienced a bit of a setback as the Current Conditions Index receded from recent levels that had reached as high as 50 (where 6 of 12 indicators improved) back to 33 in December as only four indicators improved. The good news is that December marked the eighth straight month for which the index beat its year earlier value. The December 2008 value was 8, while the December 2009 value was 33.

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

WHEN: For release today, Feb. 15, 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.