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STILL STANDING: 
There is vacant office space in downtown Providence, but people in the local commercial real estate sector say landlords and banks haven’t reached a crisis level as others have nationwide. 
PBN PHOTO/­MICHAEL SALERNO

SHAKY GROUND: Distressed office real estate could undermine banks, wider economy

The former mayor of Providence is distressed. When Joseph R. Paolino Jr. walks through the city’s financial district, he’s anxious about what he sees. He...

Impact of U.S. defaulting on its debt will be felt globally

WASHINGTON (AP) – If the debt crisis roiling Washington were eventually to send the United States crashing into recession, America's economy would hardly sink alone.  The repercussions...

U.S. economy slowed but still grew at 2.9% rate last quarter

WASHINGTON (AP) – The U.S. economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of...

Why Fed worries about the strongest U.S. job market in decades 

Chair Jerome Powell isn't as pleased with the robust U.S. job market as you might think he'd be, and he and the Federal Reserve...

Moody’s economist: R.I. job recovery could take 6 years

SMITHFIELD – An estimated three-year recovery to pandemic-related job losses nationally could take double the time in Rhode Island, Moody’s Analytics Chief Economist Mark...

Moody’s: R.I. faces worst fiscal shock in New England

PROVIDENCE – While state coffers across the country continue to feel the strain of the COVID-19 pandemic, the severity of prolonged fiscal shock may...

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

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...
THE COMMERCIAL REAL ESTATE market has been heavily impacted by the COVID-19 pandemic. / AP FILE PHOTO/MARK LENNIHAN

Virus pummels commercial real estate, could end long boom

NEW YORK (AP) – Americans are likely to see more “for rent” signs in the coming months as many businesses devastated by the coronavirus...

Fed, Moody’s predict $400M-$592M state revenue shortfall for R.I. in FY20

PROVIDENCE – As state spending soars amid unprecedented unemployment claims and new health care needs, the money coming in from taxes has fallen off...
U.S. COMPANIES shed 27,000 jobs in March, according to ADP. / AP FILE PHOTO/.DAVID GOLDMAN

U.S. businesses cut 27,000 jobs in March, before virus hit

WASHINGTON (AP) – United States companies shed 27,000 jobs in March, according to a private survey, a figure that mostly reflected the economy as it...
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