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Despite mixed results, Rhode Island economy shows encouraging signs say URI economist

Rhode Island’s Current Conditions Index for March remained unchanged from its January and February values of 75, says University of Rhode Island economist Leonard Lardaro. Given that the CCI is predicated on year-over-year changes, and the “comps” against which March compares are more difficult than previous months, Lardaro sees this as an encouraging sign. According to Lardaro, nine of 12 indicators improved this month showing a healthy growth rate – without the assistance of favorable “base effects” (weak levels from a year ago). However, he notes that not all indicators showed strong growth – Labor Force increased by .01%, while indicators such as Consumer Sentiment, Single-Use Permits (new home construction) and Employment Service Jobs showed disturbingly large negative growth rates. Lardaro believes that in the coming months Rhode Island will continue to move closer to its normal, or longer-term performance. The question remains, he says, as to whether the state will ....

Rhode Island , United States , University Of Rhode Island , Leonard Lardaro , Employment Service Jobs , Department Of Communications , Current Conditions Index , Labor Force , Consumer Sentiment , Single Use Permits , Economics Leonard Lardaro , Current Conditions ,

URI economist: Rhode Island economy continues expansion

WHAT: Rhode Island’s Current Conditions Index for February remained unchanged from its January value of 75, says University of Rhode Island economist Leonard Lardaro. According to Lardaro, most of the CCI indicators, including Total Manufacturing Hours, Manufacturing Wage and New Claims (for unemployment) showed healthy movement; however, he noted three important indicators Single-Use Permits, Employment Service Jobs and U.S. Consumer Sentiment have shown declines. While he indicates that Rhode Island’s recovery from the pandemic has been more rapid and strong than originally anticipated, given the CCI is predicated on year-over-year changes, he expects the coming months to begin to show a truer picture of the state’s economic momentum with stronger “comps” against which to compare. . ....

Rhode Island , United States , University Of Rhode Island , Leonard Lardaro , Employment Service Jobs , Department Of Communications , Current Conditions Index , Total Manufacturing Hours , Manufacturing Wage , New Claims , Single Use Permits , Economics Leonard Lardaro , Current Conditions ,

Rhode Island showing accelerating momentum moving into economic recovery says URI economist

Rhode Island showing accelerating momentum moving into economic recovery says URI economist
uri.edu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from uri.edu Daily Mail and Mail on Sunday newspapers.

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URI economist: Rhode Island economy shows continued signs of recovery from pandemic

URI economist: Rhode Island economy shows continued signs of recovery from pandemic
WHAT: Rhode Island’s overall Current Conditions Index (CCI) rose to a value of 92 in May – up from its April value of 75 – a vast improvement over where the state has been as numerous values continue to improve, says University of Rhode Island economist Leonard Lardaro. With 11 of 12 CCI indicators improving relative to their position in May 2020, the state continues its journey toward economic restoration helped along by monetary policy as well as fiscal stimulus. Lardaro cautioned that despite recent economic improvement the state would likely not be returning to “normal” as it existed prior to the pandemic, but a “new normal” impacted by the loss of many small businesses, structural changes in the way firms produce goods and services – such as increased automation – among other factors. ....

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