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Scenes from The University of Rhode Island

URI economist: Rhode Island continues to set records for poor performance

Media Contact: Wendy Roworth, 401-874-2773

Augustís Current Conditions Index drops to zero for second time this year

WHAT: Prior to 2008, the Current Conditions Index had only registered a value of 8 a few times, and never for more than a single month. This year, 8 has become the norm, and in June, the index dropped to zero, the first time for such a value since 1980. In August, the index returned to zero with not one indicator improving. Fifty is a neutral value for the index; anything above indicates expansion while anything below indicates contraction.

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

WHEN: For release today, October 13, 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.