WHAT: Rhode Island’s overall Current Conditions Index (CCI) value remained at 25 for July, providing a mixed picture for the state’s economy while keeping it in line with its previous upwardly revised level for June. Although some areas of the economy, including Retail Sales, Private Service-Producing Employment (which includes construction and manufacturing), the Manufacturing Wage, and Labor Force have improved over the previous month, many remain below where they were at this point in 2019. In addition, several leading economic indicators have deteriorated. However, URI Economist Leonard Lardaro took care to note that Labor Force improvement was its first since April of this year. Lardaro’s CCI is predicated on year-over-year changes.

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

WHEN: Sept. 14, 2020. (no embargo)

HOW: Use attached information, including summary and charts prepared by Lardaro for news reports. He is available for broadcast and print interviews. Lardaro will be blogging about the new labor data during the coming weeks. Additional information and historical data available online: http://www.llardaro.com/current.htm.

FOR INFORMATION: Leonard Lardaro, office, 401-874-4128, home, 401-783-9563.

Dawn Bergantino, URI Department of Communications and Marketing, 401-874-4147.

BACKGROUND: The Current Conditions Index, created by Lardaro, measures the strength of the present economic climate in Rhode Island by following the behavior of 12 indicators.