URI economist: ‘R.I. in early stages of recession’
Wendy Roworth, 401-874-2773
WHAT: The Current Conditions Index of 25 for November marked the fourth straight month of economic contraction in the state. “At this point, I believe Rhode Island is indeed in the early stages of a recession,” said University of Rhode Island Economics Professor Leonard Lardaro. “The overall performance of the CCI and its leading indicators will not be improving any time soon.”
WHO: Professor Lardaro, creator and author of the Current Conditions Index.
WHEN: For release today, Jan. 14, 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 & 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.