URI economist: Economy shifted into higher gear
URI professor says Rhode Island showed strongest economic momentum in a while in October
PROVIDENCE, R.I. (AP) -- A University of Rhode Island economist says the state's economy shifted into a higher gear at the beginning of the fourth quarter last year.
Leonard Lardaro on Monday released his "Current Conditions Index," which tracks several economic indicators on a monthly basis.
He says the state's economy in October showed the strongest momentum in "quite some time" after a stop-and-go period in which faster growth was recorded one month followed by slower growth in the next.
The state's unemployment rate in November was 10.4 percent, the second highest in the country.
