URI professor sees 'real strength' in economy
PROVIDENCE, R.I. -- A Rhode Island economist says he sees some "real strength" and possible momentum in the state's economy.
University of Rhode Island Professor Leonard Lardaro said in his "Current Conditions Index" report for August that the state economy seems to be gaining momentum, along with the U.S. economy.
He says that if the August trend holds, the state might see more rapid growth than it did in the second quarter, when the economy was at risk of stalling. The economy had picked up in Rhode Island at the end of 2011 and the first quarter of 2012.
The state Department of Labor and Training reported the unemployment rate for August was 10.7 percent, the second highest rate in the country.