NEEDHAM, MASS. — The New England economy, characterized as nearly stagnant by leading regional economists, will grow slowly over the next five years, but Rhode Island’s growth is expected to trail the region.
While growth will be slow, economists at the New England Economic Project’s biannual Economic Outlook Conference today said they believe the region can avoid a recession.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
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Much of the region has been hurt by the uncertainty in technology, although Frederick J. Kelly, dean of the Gabelli School of Business at Roger Williams University said that Rhode Island’s economy has been less affected because the state’s industrial base is less technology intensive than the region as a whole.
Kelly predicted that Rhode Island’s employment will grow by .6 percent this year — as compared to what other economists suggested would be 1 percent for the region. He said he expects employment to pick up to 1 percent in 2002 and 2003.
