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Scenes from The University of Rhode Island

URI economist says stateís economy shows hint of improvement

Media Contact: Dave Lavallee, 401-874-5862

WHAT: While 2008 has been a very difficult year for Rhode Islandís economy, the second quarter began with signs of possible improvement ahead. The Current Conditions Index for April rose to 17 from its recurring value of 8 for January through April. However, Aprilís value of 17 shows that the recession is continuing. Fifty is a neutral value for the index; anything higher than 50 reflects expansion, anything below reflects decline.

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

WHEN: For release today, June 16, 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 Lardaroís 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, 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.