WHAT: Rhode Island’s economy reached a milestone in November. While still mired in a recession, for two-and-half years at this point, the level of economic activity here improved again, this time moving to a neutral level, as the Current Conditions Index rose to 50. This is the highest value since Jan. 2008, when the Index was 8. Compared to Nov. 8, 2008 when the Index also stood at 8, six of the indicators improved. Not only did Rhode Island’s economy fail to decline in November, the Index beat its year-earlier value for the seventh consecutive month.

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

WHEN: For release today, Jan. 11, 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.