Economic Activity
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Fitch rates Providence bonds ‘BBB,’ outlook negative
Fitch Ratings has ranked Providence’s general obligation bonds as “BBB,” outlook negative, due to what the global ratings company said was “remaining uncertainly” and the fact that the city still faces “financial pressure and limited flexibility.” more
| 2/15/13
Report: R.I. small businesses ‘crucial’ to state’s economy
Small businesses in Rhode Island represent 95.9 percent of all employers and employ 55.4 percent of the state’s private sector workforce, according to a report from the U.S. Small Business Administration. more
| 2/15/13 | 1 comment
Consumer sentiment in U.S. increases to a 3-month high
Consumer confidence in the U.S. rose in February to a three-month high, which may help to preserve recent gains in household spending. more
Parsons withdraws from consideration as EDC director
Citing a recent health issue, William J. Parsons has asked to be withdrawn from consideration to permanently lead the R.I. Economic Development Corporation, the quasi-state agency announced Thursday. more
| 2/14/13
Foreclosure starts fall in Providence metro in January
January Foreclosure starts in the Providence-Fall River-New Bedford area dropped 22 percent and completed foreclosures plunged 61 percent compared with the same period last year, RealtyTrac said Thursday. more
Jobless claims in U.S. decreased more than forecast last week
Fewer Americans than projected filed applications for unemployment benefits last week, indicating an improving outlook for the labor market. more
Court approves R.I. offer to buy Rocky Point property
The U.S. District Court for the District of Rhode Island approved the state’s offer to purchase the remaining 82 acres of Rocky Point land in Warwick to develop a state park, the R.I. Department of Environmental Management announced Wednesday. more
| 2/13/13
Retail sales in U.S. increase for 3rd consecutive month
Retail sales in the U.S. rose in January for a third consecutive month, showing household spending is holding up even as an increase in the payroll tax takes a bigger bite from paychecks. more
Manufacturing healthy, says U.S. Chamber COO, but needs support
The Northern Rhode Island Chamber of Commerce’s 22nd annual dinner attracted 370 to see a number of their membership feted and hear a speech by an officer of the U.S. Chamber of Commerce that played up the role of manufacturing in the U.S. more
Retail sales probably rose as U.S. consumers overcame tax rise
Sales at U.S. retailers probably grew in January as an improving job market helped consumers overcome higher payroll taxes, economists said before a report this morning. more
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