Economic Indicators
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The Rhode Island unemployment rate has dropped to 7.9 percent in June, its lowest level since July of 2008, according to the R.I. Department of Labor and Training. Nationally, however, the Rhode Island unemployment rate remains 1.8 percent higher than the U.S. average of 6.1 percent for June. more
The Rhode Island Center for Freedom & Prosperity on Thursday released its 2014 Report Card on Rhode Island Competitiveness, in which the Ocean State scored a “D” or “F” in nearly 80 percent of the measures analyzed to evaluate the state’s regional and natural economic competitiveness. more
Despite earlier hopes that improved consumer confidence would drive renewed economic growth in the region, New England businesses reported mixed results during May and June, pointing to slow economic growth overall, according to the Federal Reserve Board’s Beige Book released Wednesday. more
Confidence among U.S. homebuilders rose more than forecast in July, reaching the highest level in six months, as growing payrolls brightened the outlook after a shaky first half. more
Industrial production climbed 0.2 percent in June, capping the strongest quarter in almost four years and indicating manufacturers are providing a bigger spark for the U.S. economy. more
U.S. stocks fluctuated as investors weighed better-than-estimated bank earnings against Federal Reserve concerns about valuations for some social-media and biotech companies. more
The U.S. debt held by the public is expected to rise to 106 percent of the economy in 2039 from 74 percent this year, largely driven by increases in the cost of health benefits, the Congressional Budget Office said. more
Retail sales showed a broad-based gain in June, which probably helped the U.S. economy rebound in the second quarter. more
U.S. stocks advanced, after the Standard & Poor’s 500 Index posted its biggest weekly loss in three months, on an increase in takeover activity and better-than-forecast earnings from Citigroup Inc. more
Modest gains in economic momentum in May hold promise for Rhode Island this summer, University of Rhode Island economist Leonard Lardaro said in his latest Current Conditions Index, but as usual that is only part of the story for the Ocean State. more
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