State’s growth slows, according to R.I. Current Economic Indicator

November 3rd, 2011

SMITHFIELD, R.I. - The Rhode Island Current Economic Indicator (CEI) shows that the pace of the economic recovery slowed significantly in the third quarter of 2011, creating a dark cloud looming over future growth.

According to a briefing released today by Bryant University and the Rhode Island Public Expenditure Council, the CEI increased 0.9 percent (annualized rate). This is significantly lower than the 2.2 percent in the second quarter and much slower than projected in the 2011 Q2 Briefing.

A .pdf of the briefing is available here.

Other findings for the third quarter:

The quarterly CEI, developed by economists at Bryant University, combines several key gauges of economic activity in a single statistic that measures the overall current economic conditions in Rhode Island. It is calibrated to grow at the rate of the Real Gross State Product and therefore can be interpreted as the underlying growth rate of the state economy. The CEI is calculated using the most current available data for the state.

For additional information about the RI CEI or the newsletter, contact Edinaldo Tebaldi, assistant professor of economics at Bryant University, 401-232-6901.

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Keywords: CEI, College of Arts and Sciences, economic indicator, economics, Edinaldo Tebaldi, Rhode Island, RIPEC