WHAT: The Current Conditions Index for January 2008 tied its lowest value ever, 8. That means the Index has been in the contracting range for the sixth consecutive month. The last time the Index posted an expanding value was July at 58. There is one inescapable conclusion—Rhode Island fell into recession in 2007.
WHO: Professor Leonard Lardaro, creator and author of the Current Conditions Index.
WHEN: For release today, March 12, 2008
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.
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