R.I. leading indicators rise in April

RHODE ISLAND'S leading economic indicator index increased in April to 131.3, one-tenth of a percentage point higher than in March, according to the Providence Business News and e-forecasting.com. / COURTESY E-FORECASTING.COM
RHODE ISLAND'S leading economic indicator index increased in April to 131.3, one-tenth of a percentage point higher than in March, according to the Providence Business News and e-forecasting.com. / COURTESY E-FORECASTING.COM

PROVIDENCE – Rhode Island’s leading economic indicator index increased in April to 131.3, one-tenth of a percentage point higher than in March, according to Providence Business News and e-forecasting.com.

April’s gain comes after March’s leading economic indicator index registered 131.2, representing a two-tenths of a percentage point decline from February.

An index reading of 100 is equal to the state’s activity in 2000.

Five of the nine components that make up Rhode Island’s leading indicator had a positive contribution in April: unemployment claims, exports of manufactures, national stock prices, interest rate spread and national orders index, e-forecasting.com said.

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Four of the nine components had a negative contribution to Rhode Island’s leading indicator in April: weekly hours in manufacturing, building permits, regional consumer expectations and state employment barometer.

When looking at its six-month growth rate, the leading indicator rose by 1.6 percent in April, after an increase of 2 percent in March. The long-term annual growth rate is 1.8 percent, the same as the annual growth rate of the state’s overall economic activity, e-forecasting.com said.

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