R.I. sees highest economic index value in two years

SOUTH KINGSTOWN – While Rhode Island’s economy ended the year with positive momentum, University of Rhode Island economist Leonard Lardaro isn’t convinced the state is on a permanent road to recovery.

Lardaro’s Current Conditions Index hit 83 in December, a gain on November’s 67, as well as on December 2015’s 50.

Despite the highest CCI value in the last two years, Lardaro said R.I.’s economy “remains far too susceptible to downdrafts in national economic momentum.”

The CCI analyzes the findings of 12 indicators; a CCI reading greater than 50 suggests economic growth and a value less than 50 indicates contraction.

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The CCI report noted that 10 of the dozen underlying economic indicators improved from their year-earlier values, with only two declining – retail sales (-2.1 percent) and employment services jobs (-1.9 percent). •

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