WHAT: While Rhode Island’s economy continued its expansion (restoration) in April, it is clear that some areas of the state’s economy have begun to slow. The Current Conditions Index for April was 67, compared with 75 in March. April’s year-earlier value was 92. Whereas the previous month, 9 of the 12 improving indicators displayed healthy growth rates, the story for April was a bit different. Several of the indicators that failed to improve had very large declines, most notably the U.S. Consumer Sentiment and single-use building permits.
WHO: URI Professor of Economics Leonard Lardaro, creator and author of the Current Conditions Index.
WHEN: June 10, 2022 (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. Dave Lavallee, URI Department of Communications and Marketing, 401-874-5862.
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.