The Current Conditions Index was created by University of Rhode Island Economist Leonard Lardaro to measure the strength of the present economic climate in Rhode Island. The index follows the behavior of 12 indicators and provides a snapshot of the state’s economic progress. In December, Lardaro stated that Rhode Island’s economy held relatively steady, but he is waiting for revised labor market data to provide a fuller picture. While the CCI remains in an expansion value, Lardaro’s concern lies in the weak improvement of Retail Sales, which was up only .02 percent, and the looming end of federal stimulus money. He expects this to make it more difficult to balance the state budget and potentially lead to an economic slowdown.
Leonard Lardaro is a URI Professor of Economics and has authored several books on economics. He is eager for the revised labor market data that will provide a fuller picture of Rhode Island’s economic progress. Lardaro is available for broadcast and print interviews and will be blogging about the new labor data during the coming weeks. Additional information and historical data can be found online at http://www.llardaro.com/current.htm.
For more information, individuals can contact Leonard Lardaro at his office at 401-874-4128 or home at 401-783-9563. Dawn Bergantino from the URI Department of Communications and Marketing can also be contacted at 401-874-4147 if you have any other questions or need further clarification about this topic!