Rhode Island’s Positive Economic Outlook: A Closer Look at the CCI Indicators

Rhode Island economist Leonard Lardaro recently provided an optimistic outlook on the state’s economic performance in February. He highlighted several positive trends that contributed to an improved Current Conditions Index value of 67, up from 58 in January. This improvement was due to eight out of 12 CCI indicators showing positive trends.

Lardaro emphasized the significant improvements in Single-Unit Permits, Total Manufacturing Hours, Manufacturing Wage, and Government Employment as key drivers of the index’s growth. He also noted the strength of Retail Sales, Private Service-Producing Employment, and U.S. Consumer Sentiment as additional factors contributing to Rhode Island’s positive economic outlook. Additionally, Labor Force Participation saw its seventh consecutive annual increase in February, further supporting the state’s improving economic climate.

Despite concerns about the labor market, Lardaro suggested that Rhode Island might be moving past a slow period experienced last year. His analysis included revised labor market data from the previous month, which he believed provided a more optimistic view of the state’s economic performance. Lardaro is available for interviews and will share more insights on his blog in the upcoming weeks. Interested parties can visit his website for additional information and historical data. For media inquiries or assistance with interviewing Lardaro directly, contact him at his office number or home number or Dawn Bergantino from the URI Department of Communications and Marketing for further support.