URI economist reports increase in Rhode Island economic activity – Rhody Today

University of Rhode Island economist Leonard Lardaro recently shared his optimistic views on Rhode Island’s economic performance in February. He highlighted the improved Current Conditions Index value, which increased from 58 in January to 67 in February. This improvement was driven by eight out of 12 CCI indicators showing positive trends. Lardaro pointed out the significant improvements in Single-Unit Permits, Total Manufacturing Hours, Manufacturing Wage, and Government Employment. He also noted the strength in Retail Sales, Private Service-Producing Employment, and U.S. Consumer Sentiment. Additionally, Labor Force Participation saw its seventh consecutive annual increase in February. Despite concerns about the labor market, Lardaro suggested that the state economy might be moving past a slow period experienced last year.

Lardaro’s analysis of the economic data included revised labor market data from the previous month, which he believed provided a more optimistic view of Rhode Island’s economic performance. He is available for interviews and will be sharing more insights on his blog in the upcoming weeks. Those interested in more information and historical data can visit his website for details.

For additional information or media inquiries, individuals can contact Leonard Lardaro directly at his office number or home number. Dawn Bergantino from the URI Department of Communications and Marketing is also available for further assistance.

The Current Conditions Index, developed by Lardaro, is a tool that tracks the strength of the current economic climate in Rhode Island by monitoring 12 key indicators.

By Samantha Robertson

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