RI economic index slips, but better than a year ago
2:40 PM Mon, Sep 14, 2009 | Permalink
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A numerical index that measures the Rhode Island economy slipped in July from the prior month, but is still up from a year ago. The Current Conditions Index, created by University of Rhode Island professor Leonard Lardaro was 25 in July, a decline from 42 in June. But Lardaro said the July index marked the third consecutive month for which the index beat its year-earlier value. The monthly index measures the behavior of 12 economic indicators including manufacturing wages and the size of the work force. There was an improvement in three of the indicators in July. The index ranges from 100 to 0. An index value of 50 is neutral. Anything above 50 signifies expansion, while anything below that signifies retraction.
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