Nov. 8, 2023

WHAT: Rhode Island’s economic momentum in September improved over August, according to University of Rhode Island economist Leonard Lardaro. He said this is welcome news, as eight of twelve indicators in his Current Conditions Index improved. Rhode Island started the year with six of seven months of contracting economic activity based on Lardaro’s index (values below 50). Then, in August, the state moved into the neutral range, an index of 50, a significant change as the majority of the indicators improved on a yearly basis. For September, the index finally moved into the expansion range, 58, as seven of the 12 indicators improved.

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

WHEN: Nov. 8, 2023

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.