PROVIDENCE – The Ocean State’s economy is picking up steam, according to the Rhode Island Current Economic Indicator briefing released May 16 by the Center for Global and Regional Economic Studies at Bryant University and the Rhode Island Public Expenditure Council.
The briefing stated that the Rhode Island economy’s growth has been “slightly stronger” over the last four quarters than observed in previous years and “slightly faster” than the growth observed in the New England region.
Rhode Island’s economy grew at an annualized rate of 3 percent in the first quarter, compared with an expansion of 2.9 percent in the fourth quarter, 2.1 percent in the third quarter and 3.9 percent in the second quarter of 2015.
In comparison, the New England economy grew at an annualized rate of 2.6 percent in the first quarter, compared with 2.1 percent in the fourth quarter and 2 percent in the third quarter. •
