Economic Activity
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Oil drops to lowest in 3 months on economic outlook concern
Crude dropped below $87 a barrel to the lowest in almost three months in New York while London’s Brent futures fell for a sixth session as companies missed sales forecasts leading to concern about the global economic outlook. more
‘Superman’ owner seeks up to $75M in public financing
The owner of the Industrial Trust Tower in downtown Providence is asking for up to $75 million in public financing to transform the historic office building into apartments. more
Underwater mortgages in metro area drop to 21% in 3Q
In the third quarter of 2012, 21 percent of the residential properties with a mortgage in the Providence-New Bedford-Fall River area were underwater, CoreLogic said Thursday. more
| 1/17/13
EDC hires firms to study, market Warwick Station District
The R.I. Economic Development Corporation has hired Beta Group Inc. of Lincoln and (add)ventures of Providence to study and market the Warwick Station District near T.F. Green Airport in Warwick. more
White House: Sequestration projected to cost R.I. $39M
Rhode Island programs and payrolls are expected to lose more than $39 million to the automatic sequestration cuts threatening to take place on March 1, according to a report released by the White House on Sunday detailing how the deep spending cuts will affect every state in the country. more
| 2/25/13
New home sales decline, blemishes best year since 2009
Purchases of new U.S. homes unexpectedly decreased in December, a temporary blemish as the industry wrapped up its best year since 2009 to emerge as a bright spot for the economy. more
Payrolls in U.S. rose 146,000 in Nov.; Jobless rate at 7.7%
Payrolls rose more than anticipated in November and the jobless rate fell to an almost four-year low, indicating superstorm Sandy had little effect on the U.S. labor market. more
For R.I. women-owned firms, job growth worst in nation
While Rhode Island’s women-owned businesses generated more than $3.5 billion in sales from 2012 to 2013, employment in these local firms fell at the fastest rate in the country, according to the State of Women-Owned Businesses Report from American Express OPEN. more
U.S. stocks rise before election as dollar, Treasuries decline
U.S. stocks gained for a second day with commodities, while the dollar and Treasuries fell, as Americans headed to polls to elect a president. Australia’s dollar rallied as the central bank left interest rates unchanged. more
Jobless claims in U.S. fall as storm starts to affect data
Fewer Americans than forecast filed claims for unemployment insurance last week as the effects of Hurricane Sandy started to show up. more
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