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Wed February 13, 2013
URI index shows RI economy getting its mojo back
A University of Rhode Island economist is out with his monthly index of economic indicators. And it shows the state has economic momentum unmatched since 2003.
Professor Leonard Lardaro’s “Current Conditions Index” hit 92 in December, the highest mark in eight years. All but one of 12 economic indicators showed growth; the lone exception being government which is scaling back hiring as services are consolidated.
Lardaro says it is now “abundantly clear” that Rhode Island’s economic performance during the fourth quarter was its strongest in terms of overall momentum. He calls it ‘ironic’ that while Rhode Island turned in its best quarterly performance in years, the state’s jobless rate tied with Nevada for the highest in the nation.
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