PROVIDENCE, R.I. (August 2014) – According to the Rhode Island Current Economic Indicator (CEI) briefing released today by the Center for Global and Regional Economic Studies and the Rhode Island Public Expenditure Council (RIPEC), Rhode Island’s economy grew by an annual rate of 2.2 percent in the first quarter of 2014 and by 3.0 percent in the second quarter of 2014—a rate significantly higher than recent quarters. Growth is projected to continue into the third quarter, as the Leading Economic Indicator projects an expansion of 2.5 percent. Rhode Island’s 2014 second quarter economic expansion was driven by national growth trends and internal dynamics, including employment growth in the construction and professional and business services industries. A copy of the press release is available here.
Turning the Corner: Rhode Island’s Economy Continues to Improve