Economic Forecast - Providence Business News

BALANCED APPROACH: Jillian J. DeShiro, executive vice president and chief financial and operating officer at Centreville Bank, says banks need to be able to operate in a high-rate environment and a low-rate environment “because you don’t get to choose which one you’re in.”  PBN PHOTO/MICHAEL SALERNO

Will interest rates drop as anticipated in 2026?

Economic Activity 01/16/2026

For Rhode Island’s business owners, homeowners and lenders, 2026 is shaping up to be a year defined in part by two questions: When will...

PLANNING AHEAD: Jennifer Mega, right, managing partner at Mega Professionals LLC, says the state of Rhode Island should focus on workforce development and strategic investments to protect against a fluctuating economy and rising unemployment rates. She is pictured with Alex Pettit, managing partner, at their East Providence office. PBN PHOTO/TRACY JENKINS

Employers moving cautiously when it comes to hiring

Economy 01/16/2026

Employers are adopting a cautious and strategic approach to hiring in 2026, giving careful consideration to economic conditions, which are giving no clear indication...

DEAL-MAKING TACTIC? Providence College economics professor Christopher Limnios says he doesn’t expect the tariffs levied against China, Mexico and Canada to be as high as President-elect Donald Trump has threatened. He suspects it might be a move to get leaders of those countries to the negotiation table.  PBN PHOTO/RUPERT WHITELEY

Some R.I. firms worry about effects of tariff threats

Economy 01/03/2025

Many Rhode Island businesses are in a “wait-and-see” holding pattern as they anxiously await the results of President-elect Donald Trump’s vow to raise tariffs...

ADVISING CAUTION: Sen. Louis P. DiPalma, D-Middletown, says the state shouldn’t jump into buying crypto-related investments for public pension funds and treasuries even though other states are becoming more open to it.  COURTESY CAPITOL TV

States could see a crypto policy blitz in 2025; will R.I....

Economy 01/03/2025

If the R.I. State Investment Commission, which manages the state’s $11 billion public retirement system, had a crystal ball in 2019, it could have...

VESTED INTEREST: Gina Lalli, senior loan officer at Shamrock Home Loans, hopes interest-rate cuts will come in 2024 to spur some home sales activity. New mortgage applications in November were 20% lower than they were a year earlier. PBN PHOTO/DAVID HANSEN

Real estate industry ready for some rate cuts

Economic Activity 01/05/2024

While many real estate agents are dream sellers, Gina Lalli, senior loan officer at Shamrock Home Loans in Newport, often has to give buyers...

2024 forecast: R.I.’s unemployment – ‘nowhere to go but up’

Economic Activity 01/05/2024

During the COVID-19 pandemic, University of Rhode Island economist Leonard Lardaro says he noticed businesses in the South County region of the state posting...

POWERS THAT BE: Peter Kaczmarek, president of Mearthane Products Corp. in Cranston, has decided to add rooftop solar panels to his facility in part because of concerns about increasing electricity rates in the region.  PBN PHOTO/TRACY JENKINS

Firms fret about how big their power bills will grow

Economic Activity 01/06/2023

The massive milling machines and grinders used to make Hindley Manufacturing Co.’s signature wire hardware are power hungry, so it’s no surprise that President...

STILL BUSY: Sally Lapides, CEO and president of Residential Properties Ltd., says she believes demand for new homes will remain strong in 2022. / PBN PHOTO/MICHAEL SALERNO

Housing market forecast: ‘From ridiculous to hot’

Coronavirus 01/07/2022

Prospective homebuyers shouldn’t expect substantial relief on the horizon when it comes to house prices. Following a record-breaking year for the residential real estate market...

NEW TASKS: Alexandria Kitsilis Cardoso, left, and Christine Kitsilis, co-owners of Angelo’s Palace Pizza in Cumberland, prepare food in the kitchen. Restaurant employees were cross-trained to become delivery drivers or cooks to keep them working when dining room sales dropped due to the COVID-19 pandemic. / PBN PHOTO/MICHAEL SALERNO

R.I. job market could take years to recover

Coronavirus 01/08/2021

Economists foresee a long, slow rebuilding period following the devastation of the COVID-19 pandemic, with the replacement of lost jobs in Rhode Island taking...