Economic Activity
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Rhode Island’s economic outlook ranked No. 41 among the 50 U.S. states according to the 2014 ALEC-Laffer State Economic Competitiveness Index released Tuesday by the American Legislative Exchange Council. Rhode Island’s ranking at No. 41 in the 2014 report was an improvement over last year, when the Ocean State landed at No. 45. more
The U.S. government’s deficit will fall to $492 billion this year, according to the Congressional Budget Office, a steeper drop than originally predicted from $680 billion in fiscal year 2013. more
The average weekly wage in Providence County rose to $1,015 in the fourth quarter of 2013, a 2 percent increase over the same period the year earlier, the U.S. Bureau of Labor Statistics reported Thursday. more
Gasoline prices rose a penny in Rhode Island and Massachusetts this week, but prices in both states were lower than the national average for the first time in 10 months, according to the weekly survey by AAA Southern New England. more
Retail sales increased in March by the most since September 2012 as Americans bought more cars, clothing and garden supplies, helping the economy recover from a weather-depressed start to the year. more
U.S. Sens. Jack Reed and Sheldon Whitehouse and U.S. Rep. James R. Langevin on Monday announced a new $800,000 federal grant for infrastructure upgrades at the Port of Davisville designed to increase Rhode Island’s port capacity and improve cargo shipment flexibility for companies headquartered in Quonset Business Park. more
The negative outlook on the U.S.’s AAA credit-ranking was changed to stable by DBRS Inc. amid declining federal budget deficits and after Congress suspended the nation’s debt limit earlier this year until 2015. more
U.S. house prices rose 6.9 percent in the 12 months through February, the smallest gain in a year, in a sign that the housing market’s recovery is cooling. more
Rhode Island exports fell by $31.4 million in February, or 15.8 percent on a month-over-month basis, according to an e-forecasting.com report released Tuesday. more
Foreclosures in the Providence-Warwick metro area declined to 1.89 percent of all outstanding mortgage loans for the month of February from 2.85 percent reported during the same month a year earlier, according to a CoreLogic report released Tuesday. more
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