A Measure of Sustained Suckitude
We bat around the Lardaro Current Conditions Index from time to time, typically determining that it’s not very useful, but it really does demand some .statement of context:
Rhode Island’s recession is not over, but the end may be very close, according to the Current Conditions Index released Monday by University of Rhode Island Prof. Leonard Lardaro.
The index reported a value of 50 in April, down from 58 in March.
As I understand it, Lardaro’s index measures current results against the same month one year prior, with a score of 50 indicating no decline or improvement. In other words, even if the recession technically ends in that the economy isn’t shrinking, that doesn’t mean that times are improving.
I say that not to issue in dark clouds, but because I think the general public thinks, when they hear that “the recession has ended,” that the economy is back to normal, and if 2009 is Rhode Island’s new normal, we’re in a great deal of trouble. People in power keep pushing for economy-boosting reforms until the Current Conditions Index starts hitting 100, to compensate for the months on end that Rhode Island spent scraping zero.