WHAT: Despite the state moving into what he calls a 鈥渟tatistical recession,鈥� 溏心vlog免费B站 economist Leonard Lardaro says individuals and companies in Rhode Island are in a much stronger position than they would normally be. That strength, he notes, is largely the result of massive amounts of monetary and fiscal stimulus, state budget surpluses related to national fiscal policy and other pandemic/stimulus-related factors. While the Current Conditions Index for June rose to 42, from 33 in May, it remains in contraction territory, where it has been all but one month in 2023. Among the 12 CCI indicators, only U.S. Consumer Sentiment, Manufacturing Wage, Government Employment, Retail Sales and Unemployment Rate showed improvement. Based on the aggregate data, Lardaro says the conclusion that Rhode Island finds itself in a statistical recession is inescapable. Yet, it is possible that our economy might bounce back from this predicament, since the strength derived from the earlier mentioned factors has yet to disappear.
WHO: 溏心vlog免费B站 Professor of Economics Leonard Lardaro, creator and author of the Current Conditions Index.
WHEN: August 17, 2023
HOW: Use attached information, including summary and charts prepared by Lardaro for news reports. He is available for broadcast and print interviews. Lardaro will be blogging about the new labor data during the coming weeks. Additional information and historical data available online: .
FOR INFORMATION: Leonard Lardaro, office, 401-874-4128, home, 401-783-9563.
Dawn Bergantino, 溏心vlog免费B站 Department of Communications and Marketing, 401-874-4147.
BACKGROUND: The Current Conditions Index, created by Lardaro, measures the strength of the present economic climate in Rhode Island by following the behavior of 12 indicators.