Lardaro: R.I. economic momentum ‘hangs by a fingernail’

ONLY SIX OF THE 12 indicators comprising Rhode Island's Current Conditions Index showed improvement in June, contributing to a CCI of 50 that suggests the economy neither grew nor shrank during the month. Among the negative factors in June were higher unemployment claims and benefit exhaustions. / COURTESY LEONARD LARDARO
ONLY SIX OF THE 12 indicators comprising Rhode Island's Current Conditions Index showed improvement in June, contributing to a CCI of 50 that suggests the economy neither grew nor shrank during the month. Among the negative factors in June were higher unemployment claims and benefit exhaustions. / COURTESY LEONARD LARDARO
(Updated, 9:20 a.m.) SOUTH KINGSTOWN – Downgrading Rhode Island’s economic momentum from “precarious” to “tenuous,” University of Rhode Island economist Leonard Lardaro said June’s Current Conditions Index “shatters the notion” of economic progress the state seemed to be making. The June index measured in at 50, significantly lower than May’s CCI of 67 and last…

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