Some economists think the pandemic-fueled national recession lasted just two months, ending in April 2020. Do you believe the recession has ended in Rhode Island?

PBN Staff

07/23/2021

Economy Recession — THE NATIONAL RECESSION that broke out with onset of the pandemic officially ended in April 2020, making it the shortest downturn on record, according to the committee of economists that determines when recessions begin and end. / AP FILE PHOTO/RICH PEDRONCELLI

The National Bureau of Economic Research’s Business Cycle Dating Committee on July 19 said the pandemic-fueled national recession lasted just two months, ending in April 2020.

The NBER said April 2020 is when the economy reached its lowest point in terms of jobs and output. The economy began to rebound the following month, the committee said.

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But Rhode Island is historically slow to pull out of recessions.

Citizens Bank’s Quarterly Business Conditions Index found that while a strong post-pandemic rebound pushed nationwide business conditions to a three-year high in the second quarter, Rhode Island’s business climate worsened.

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And University of Rhode Island economist Leonard Lardaro on July 14 said economic data from May suggests the state has only entered the early stages of a recovery from COVID-19.