KINGSTON VILLAGE – “Life is never dull when gauging the performance of Rhode Island’s economy,” says Leonard Lardaro, a professor of economics at the University of Rhode Island and the author and creator of the Rhode Island Current Conditions Index.
The CCI leapt 25 points in October to 83, from September’s 58, as improvement was seen in 10 of the 12 indicators that comprise the index, Lardaro said in his monthly report today.
Seifert Systems Invests in Energy Efficiency to Strengthen Operations
For manufacturers, energy is more than just another operating expense. It plays a critical role…
Learn More
The October CCI – the year’s highest to date – is 41 points above August’s “sub-par” value of 42. The index’s second and third highest values this year were January’s 75 points and February’s 67.
The CCI measures the strength of the economic climate in Rhode Island, by following the behavior of 12 indicators. It has a theoretical range of 0 to 100 points, with 50 as the neutral value. Values higher than 50 indicate that the state’s economy is expanding; values lower than 50, that it is contracting.
Its historic low of 8 points was recorded in April 1991, Lardaro notes, “as the combined effects of a recession, a banking crisis, and major defense cutbacks all took their toll.” The CCI has reached 100 points several times, in 1984 and 1986.
Additional information on the Current Contidions Index, including historical values, is available at Lardaro’s Web site: members.cox.net/lardaro/current.htm.
