WHAT: The May 2008 Current Conditions Index is proving 2008 to be the worst year for Rhode Island’s economy since values for the Current Conditions were calculated in 1983. The value for May reverted back to 8. Only one indicator improved.

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

WHEN: For release today, July 14, 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 Lardaro’s web site at http://members.cox.net/lardaro/current.htm.

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

Jan Wenzel, 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.