Economic Activity

THERE ARE 25 approved Opportunity Zones in Rhode Island, including Downtown Providence and much of the city's waterfront.. / COURTESY R.I. COMMERCE CORP./GOOGLE INC.

Opportunity Zone rules aim to draw capital to distressed areas

NEW YORK – It will be easier to invest in businesses and real estate in low-income communities throughout the United States now that the...
THE U.S.TRADE deficit in goods and services declined to $49.4 billion in February. / BLOOMBERG NEWS FILE PHOTO/TIM RUE

U.S. trade gap narrows to eight-month low on plane exports

NEW YORK – The United States trade deficit unexpectedly narrowed to an eight-month low in February on a surge in civilian aircraft exports,...
UNITED STATES factory production in March was unchanged from February after falling a revised 0.3 percent. / BLOOMBERG NEWS FILE PHOTO/TY WRIGHT

U.S. factory output stalled in March as auto production dropped

NEW YORK - United States factory production stalled in March as motor-vehicle output declined, adding to signs of headwinds for manufacturing and economic growth...
RHODE ISLAND ranked No. 42 on ALEC's 2019 Economic Outlook rankings.

R.I. ranks low on conservative think tank’s economic index

PROVIDENCE – Rhode Island ranked No. 42 for economic outlook Monday by the conservative think tank American Legislative Exchange Council’s report, “Rich States, Poor...
NET WORTH as a share of the U.S. total has recently shrunk considerably for the upper middle class from 1989 to 2018. In one generation, U.S. wealth held by households from 50th to the 90th percentiles fell from 35.2 percent of the total to 29.1 percent. Most of this wealth has transferred to the top 1 percent of U.S. households. /BLOOMBERG NEWS FILE PHOTO/DAVID MCNEW/GETTY IMAGES

America’s upper middle class feeling the pinch too

NEW YORK - Newly available net worth data from the Federal Reserve suggests that the “left-behind” contagion has spread to all Americans aside from...
THE RHODE ISLAND CCI VALUE in February was 42, indicating contraction. / COURTESY LEONARD LARDARO

Lardaro: ‘Abysmal’ R.I. February CCI potential sign of oncoming recession

PROVIDENCE – The Current Conditions Index for Rhode Island was 42 in February, indicating contraction, according to University of Rhode Island economist Leonard Lardaro...
UNIONIZED WORKERS picket outside of East Side Market, a Stop & Shop-owned grocery store closed down due to the strike, More than 31,000 workers are striking in New England following an impasse in contract negotiations. / PBN PHOTO/MARY MACDONALD

Stop & Shop strike enters first full day, closes some stores

PROVIDENCE – The strike of unionized Stop & Shop LLC workers entered its first full day Friday.More than 31,000 United Food and Commercial Workers...
THE PARENT COMPANY of The Providence Journal paid its chief operating officer $1.7 million in 2018, paid more than $90 million in dividends and paid its management company $24.5 million for the year, amid widespread layoffs at its newspapers around the country. / PBN FILE PHOTO/BRIAN MCDONALD

ProJo parent pays COO $1.7M and $90M in dividends amid layoffs

PROVIDENCE – New Media Investment Group Inc. paid Kirk Davis, its chief operating officer, $1.7 million in 2018, slightly less than what Davis earned...
CONSUMER Sentiment in the United States fell in April for the first time in three months. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT

U.S. consumer sentiment falls as outlook for economy weakens

NEW YORK - United States consumer sentiment fell in April for the first time in three months, missing estimates, as the long-term economic outlook...

Hope Point tower design gets a negative review by Providence design...

PROVIDENCE – The design of the proposed 46-story Hope Point tower failed to persuade the Downtown Design Review Committee that it will comply with...
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