Thursday, December 15, 2022
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URI Economist Leonard Lardaro PHOTO: file
After two extremely strong months, Rhode Island’s economy slowed a bit in October. For both August and September, the Current Conditions Index reached values of 92, with all but one indicator improving. More impressively, the CCI indicators for each of those months exceeded those of the prior year which had been getting stronger—a case of more difficult “comps.”
So, with the national economy slowing and after such strong economic momentum here, it was to be expected that the pace of activity would slow, resulting in a CCI of 75 in October. Still, nine of the twelve indicators improved relative to a year ago, with several bettering difficult “comps” from last October. Remember the prime economic directive: Don’t make too much from a single month’s value. After all, October was the sixteenth…
