- Associated Press - Monday, January 12, 2015

PROVIDENCE, R.I. (AP) - A University of Rhode Island economist says the pace of the state’s recovery slowed in the fourth quarter.

Leonard Lardaro said Monday the indicators he tracks monthly in his “Current Conditions Index” showed marked improvement in the third quarter but the numbers have been disappointing since.

He says the state’s economy is too dependent on the overall U.S. economy and the pace of growth nationally slowed.

The index’s overall level stood at 67 in November. About two-thirds of the indicators improved compared to a year ago. It was 75 in the third quarter.

Lardaro says 2014 was not a bad year for Rhode Island and he’s optimistic about 2015. He says the U.S. economy is doing well and the state’s leaders are proactive about improving the business climate and economy.

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