URI economist: Rhode Island economy continues expansion

WHAT: Rhode Island’s Present Circumstances Index for February remained unchanged from its January worth of 75, says College of Rhode Island economist Leonard Lardaro. In line with Lardaro, many of the CCI indicators, together with Complete Manufacturing Hours, Manufacturing Wage and New Claims (for unemployment) confirmed wholesome motion; nevertheless, he famous three necessary indicators Single-Use Permits, Employment Service Jobs and U.S. Client Sentiment have proven declines. Whereas he signifies that Rhode Island’s restoration from the pandemic has been extra speedy and robust than initially anticipated, given the CCI is based on year-over-year adjustments, he expects the approaching months to start to point out a more true image of the state’s financial momentum with stronger “comps” towards which to check.

WHO: URI Professor of Economics Leonard Lardaro, creator and creator of the Present Circumstances Index.

WHEN: April 18, 2022. (No embargo)

HOW: Use connected data, together with abstract and charts ready by Lardaro for information experiences. He’s obtainable for broadcast and print interviews. Lardaro shall be running a blog concerning the new labor information in the course of the coming weeks. Further data and historic information obtainable on-line: http://www.llardaro.com/present.htm.

FOR INFORMATION: Leonard Lardaro, workplace, 401-874-4128, dwelling, 401-783-9563.

Daybreak Bergantino, URI Division of Communications and Advertising, 401-874-4147.

BACKGROUND: The Present Circumstances Index, created by Lardaro, measures the power of the current financial local weather in Rhode Island by following the habits of 12 indicators.