Rhode Island economy still two to three years from returning to ‘normal,’ says URI economist – URI News
WHAT: Rhode Island’s economic recovery continued in October, maintaining its September CCI value of 83, said URI Professor of Economics Leonard Lardaro. The Current Conditions Index is predicated on year-over-year changes. Lardaro noted this month’s results were based on relatively easy “comps” from last year – the October 2020 CCI was 17. However, he notes this is also the state’s seventh consecutive CCI expansion value, with 10 of 12 indicators showing improvement relative to their position last year. Those CCI indicators showing significant improvement include: Retail Sales, Total Manufacturing Hours, New Claims for Unemployment Insurance and Single-Unit Permits.
Lardaro states that changes in economic indicators continue to be a mix of adverse pandemic effects being increasingly offset by the impacts of re-opening much of the state economy, combined with monetary and fiscal policy. While Rhode Island’s…
