Business Talk: RI Current Conditions Index
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Business Talk: Current Conditions Index
Len Lardaro, URI Economics professorPublished: August 11, 2009
It’s been awhile since the Current Conditions Index on Rhode Island’s economy had some good news in abundance.
URI economics professor Leonard Lardaro puts the index together each month.
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People are on the lookout for economic signs. Economic signs aren’t normally paid attention to when things are boom, but are under the microscope when bust. DP, or Gross Domestic Product is a biggie. Home sales and house prices are also important, so are unemployment rates – and their declines have all slowed. Since most manufacturing (or production) has dipped, unemployment will continue to rise. (That’s called Okun’s Law, but its veracity is disputed.) Not many businesses have extra cash, or people for that matter. Most experts are predicting a recovery that will start soon, and complete by 2011. Despite the economic signs that the decline has slowed, many are out of work, and few easy loans can be had.
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