Economic Indicators
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Providence area GDP drops from ’06 to ’11
The real gross domestic product for the Providence metro area averaged $58.5 billion – in 2005 dollars – during the first quarter of 2011 compared with $61.8 billion five years earlier, according to a report from e-forecasting.com. more
| 7/3/12
Orders to U.S. factories increase for first time in 3 months
Orders placed with U.S. factories rose in May for the first time in three months, easing concern that manufacturing is faltering. more
Gas prices drop 4 cents in R.I.
Rhode Island’s gasoline price dropped 4 cents this week in the 11th consecutive week of declines, according to AAA Southern New England. more
| 7/2/12
Providence-area home prices fall 4.2% in May
Single-family home prices in the Providence-New Bedford-Fall River area dropped 4.2 percent in May compared with the same period in 2011, according to CoreLogic’s Home Price Index. more
| 7/2/12
Oil declines on Europe concerns after biggest gain since 2009
Oil declined in New York as euro-area unemployment reached the highest level on record, prompting speculation that crude’s surge last week, its biggest in three years, may have been excessive. more
Valuations in 2012: A matter of appreciation
Are some appraisers failing to see the improvements in real estate values under way in local markets that have recently bottomed out and turned positive? When multiple bids push a house price thousands of dollars above what the seller is asking – not unusual in neighborhoods where demand is particularly robust – are appraisers still coming in with values below the agreed-upon contract number? more
7/2/12
States’ economies stall in BEES index amid U.S. slowdown
Fewer U.S. state economies improved during the first three months of the year and a measure of gains in their health rose at half the rate at the end of last year. more
R.I. foreclosure rate drops slightly in May
Rhode Island’s foreclosure rate fell 0.2 percentage points from May 2011 to May 2012, CoreLogic said Friday. more
Consumer spending in May is weakest in 6 months
Consumer spending in the U.S. stalled in May as slower job gains and a lack of wage growth prompted Americans to cut back. more
U.S. economy grew 1.9% in 1Q on consumer spending
The U.S. economy grew 1.9 percent in the first quarter, reflecting a gain in consumer spending that now shows signs of cooling as the labor market weakens. more
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