Economic Indicators
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Drop in U.S. retail sales points to slower growth
Retail sales in the U.S. fell in May for a second month, prompting economists to cut forecasts for economic growth as limited job and income gains hold back consumers. more
Woonsocket faces receivership
Woonsocket is facing possible receivership after state lawmakers and Gov. Lincoln D. Chafee failed to agree on a supplemental tax package to repair the city’s finances before the end of this year’s legislative session Tuesday night. more
U.S. stocks advance amid speculation of more economic stimulus
U.S. stocks advanced, rebounding from yesterday’s decline, amid speculation the Federal Reserve will take steps to stimulate the economy and after the European Central Bank endorsed a plan to guarantee bank deposits. more
U.S. stocks retreat as optimism over spain’s aid request fades
U.S. stock futures advanced, following the biggest weekly rally for the Standard & Poor’s 500 Index this year, as investors speculated that the bailout of Spain’s banks will help ease the euro area’s debt crisis. more
Lardaro: R.I. enters 2Q on a ‘positive note’
Economic conditions in Rhode Island entered the second quarter on a “positive note,” according to Leonard Lardaro’s Current Conditions Index, adding that the state is not close to a double-dip recession. more
Barbell approach needed to lift heavy U.S. economy
Despite the hoopla over recent jobs numbers and the June 5 long-term fiscal outlook from the Congressional Budget Office, the underlying reality of the U.S. economy hasn’t changed all that much lately. We are still in the midst of the hard slog following the financial crisis, and we still face a massive long-term, government budget deficit. more
Guest Column: Peter Orszag | 6/11/12
Demand for fuel efficiency spurs R.I. auto sales
During the first quarter of 2012, earning reports for the “Big Three” American motor companies, Ford, General Motors and Chrysler, showed that Americans are standing behind their automobile makers, and the Ocean State followed suit in the country’s rekindled love affair with the iconic, American-made automobile. more
Ocean State not as bad off as employment data suggest
When University of Rhode Island economist Leonard Lardaro began working as a forecaster for the New England Economic Partnership in 1991, he realized the Ocean State was not getting the kind of detailed economic analysis happening elsewhere. Seeing an opportunity to fill that gap, Lardaro developed his Current Conditions Index for Rhode Island that 11 years later is relied on to provide a barometer of the state’s economic health. more
CEOs lose their optimism as job slowdown imperils U.S. growth
CEOs from General Motors Co. to Hewlett-Packard Co. are turning more pessimistic about a second-half recovery as rising unemployment and Europe’s debt turmoil threaten domestic growth prospects. more
R.I. sees 63% growth in high-income taxpayers
The number of high-income taxpayers in Rhode Island grew 63 percent from 1999 to 2009, according to a new report from The Tax Foundation. more
| 6/7/12
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