Rhode Island's Economy May Be In Recovery: URI Economist

KINGSTON, RI — Rhode Island's economy may be in recovery, according to a University of Rhode Island economist.

"Given Rhode Island’s economic performance for April saw a number of positives and improvements from earlier months, according to University of Rhode Island economist Leonard Lardaro, the question now shifts to whether the state is still in a recession or if it’s in the earliest stages of recovery," says a post on the university's website.

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Lardaro said the state's "household data, which appears to be dropping dramatically, is likely inaccurate," according to the post.

"Although Rhode Island’s labor data for 2024 showed growth rates much higher than the United States overall, Lardaro says the official data from the last two months show otherwise," the post said.

"It is possible, and hopefully true, that Rhode Island might actually be in the earliest stages of an economic recovery, but only time will tell, Lardaro says," according to the post.

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