With stocks recovering from tariff-induced lows and inflation cooling, can the Rhode Island economy avoid a recession this year?
There are economic signs to suggest the state already is or soon will be in a full-blown recession, according to University of Rhode Island economist and professor Leonard Lardaro.
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On May 12 he issued his monthly Current Conditions Index report that found Rhode Island’s March economic performance to be the state’s worst since the Great Recession in 2008.
Only two of 12 economic indicators he tracks improved from February.
He did note, however, that more than one month of data is needed to form a conclusion in either direction about the economy.
But he also warned that March’s results came before the tariff war, which dragged down stocks until President Donald Trump last month announced a 90-day pause on higher reciprocal tariffs affecting about 60 countries.
