Economic Activity
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U.S. faces downgrade in 2013 without budget deal, Moody’s warns
U.S. policymakers must address debt loads projected to rise later this decade to avoid a 2013 downgrade, even as the latest budget projections are “credit positive,” according to Moody’s Investors Service. more
Providence named 2nd most expensive city by NerdWallet
Personal finance website NerdWallet.com said Rhode Island’s capital city was the second most expensive in the United States, according to its “Quarter Pounder Index,” a basic cost-of-living guide that uses the price of a McDonald’s quarter pounder with cheese to gauge the cost-of-living differences between U.S. cities. more
| 5/20/13
Report: R.I. economic growth ‘rebounds’ in 1Q
The Rhode Island Current Economic Indicator Index, released by the R.I. Public Expenditure Council and Bryant University’s Center for Global and Regional Economic Studies on Monday, reported that Rhode Island economic growth expanded at a more robust rate than estimated during the first quarter of 2013. more
| 5/20/13
U.S. stocks are little changed after 4-week rally amid deals
U.S. stocks were little changed, after the Standard & Poor’s 500 Index climbed for four straight weeks to an all-time high, as investors weighed corporate acquisitions. more
R.I. sees 3rd-highest construction job contraction in April
During the past year, construction employment in Rhode Island fell nearly 9 percent, or 1,400 jobs, according to the Associated General Contractors of America. more
U.S. stocks advance as leading indicators, sentiment gauges rise
U.S. stocks advanced, putting the Standard & Poor’s 500 Index on track for its fourth straight week of gains, as gauges for leading indicators and consumer sentiment advanced more than estimated. more
WaterFire looks to region for help designing sustainable future
WaterFire Providence is asking its supporters for help in an “unusual” way. The nonprofit organization was recently named one of 14 semifinalists in the ArtsFwd 2013 Business Unusual National Challenge, and it’s looking for online votes to help it come out on top. more
Velocity achieved in U.S. as growth for 2 years seen in poll
The U.S. economy will continue to recover until at least 2015 without tumbling into a recession, achieving the sustained growth that has eluded it since the last slump ended four years ago, according to a Bloomberg poll. more
Jobless rate drops to 8.8% in April, as workforce contracts more
Rhode Island’s unemployment rate fell to 8.8 percent in April, the 10th consecutive monthly drop in the jobless rate and the lowest it has been since October 2008, the R.I. Department of Labor and Training said Thursday. more
Consumer prices in U.S. dropped more than forecast in April
The cost of living in the United States fell in April for a second consecutive month, the first back-to-back declines in inflation since late 2008, as fuel prices retreated. more
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