Rhode Island’s economy continued to show signs of slowing in November, says University of Rhode Island Economist Leonard Lardaro, with the Current Conditions Index dropping from 75 to 67. While eight of 12 key CCI indicators showed improvement, their rate of growth has slowed. Further, those four indicators which failed to improve – U.S. Consumer Sentiment, Single-Unit Permits, Employment Service Jobs and New Claims for unemployment insurance, leading economic indicators – remained weak. Employment Service Jobs declined sharply after four months of improvement and 2 additional indicators – Retail Sales and Total Manufacturing Hours – slowed substantially. Although this was the 17th consecutive month in which Rhode Island’s economy expanded (a CCI above 50), Lardaro states the weakening of these indicators calls into question how rapid the pace of economic growth will be through the end of 2022 and into 2023. .
After two extremely strong months, Rhode Island’s economy slowed a bit in October. For both August and September, the Current Conditions Index reached values of 92, with all but one indicator improving. More impressively, the CCI indicators for each of th
WHAT: The pace of economic activity in Rhode Island continued to improve in July along with showing hints of an accelerated pace says noted University of Rhode Island economist Leonard Lardaro. According to Lardaro, Rhode Island’s Current Conditions .
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