URI economist: pace of RI recovery slowed in Sept.

Associated Press

PROVIDENCE, R.I. (AP) — An economist at the University of Rhode Island says the pace of the state's economic recovery slowed in September, although strong momentum continues.

Leonard Lardaro on Monday released his "Current Conditions Index," which tracks several economic indicators on a monthly basis.

Lardaro says the state has now had 31 months of an economic recovery. But he says during the past six months, there has been a "stop and go" pattern of faster growth in one month followed by slower growth in the next.

He says that could be bad news, especially if the looming "fiscal cliff" comes to pass. That refers to government spending cuts and tax increases scheduled to kick in at the beginning of the year, unless Congress and the White House can work out a compromise.