R.I. ranks No. 3 on weekly ‘Back-to-Normal’ economic index

RHODE ISLAND ranked No. 3 this week on Moody's Analytics and CNN Business' "Back-to-Normal Index," which is designed to measure state economic recoveries from the COVID-19 pandemic compared with pre-pandemic activity. / PBN FILE PHOTO/ARTISTIC IMAGES

PROVIDENCE – Rhode Island on Friday moved up to No. 3 on CNN Business and Moody’s Analytics’ “Back-to-Normal Index,” which measures states’ economic recoveries amid the COVID-19 pandemic.

Rhode Island ranked No. 6 last week. The index found that Rhode Island’s economy has recovered by 89% when compared to pre-pandemic economic activity. Rhode Island was said to have recovered by 87% one week prior.

The index considers 37 indicators, including employment statistics, restaurant reservations, hotel occupancy, real estate activity, travel figures and gross domestic product.

Maine ranked No. 1 this week at an estimated 95% economic recovery, followed by South Dakota at 92%.

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The index rankings update every Friday.

Other New England state rankings this week:

  • New Hampshire: No. 7 at 88%
  • Vermont: No. 10 at 87%
  • Connecticut: No. 13 at 86%
  • Massachusetts: No. 43 at 75%

The interactive index, which began tracking states’ economic performances last week, may be viewed online.

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