(Kingston) – Republican Gubernatorial candidate Allan Fung sharply questioned and criticized the Governor’s claims that the Rhode Island economy has dramatically improved during her first term in office.
“Just two weeks ago, U.S. News & World Report ranked Rhode Island worst in the entire Northeast,” said Mayor Fung. “We’re 48th worst for infrastructure, and in the bottom half of the country for education, opportunity, fiscal stability and the economy. We’re still in the bottom half for unemployment and trailing both Massachusetts and the national average. There is no question whatsoever that we can do better.”
In the latest Current Conditions Index (CCI) issued by University of Rhode Island Economics Professor Len Lardaro earlier today, it states, “Thus far, the third quarter of 2018 hasn’t exactly been a sign of great strength for Rhode Island. Nor has the year 2018 overall for that matter.”
The August value, along with the recent progression, are discouraging as the CCI fell to its lowest value this year in August… the CCI has continually declined since the most recent high of 92 in May,” said Lardaro in the report. “Monday’s CCI measurements represent a 25-point decline from 92 to 67 year over year.”
The CCI measures 12 economic indicators that are representative of the economic climate of the state.
“While Governor Raimondo is quick to have you believe that Rhode Island is experiencing an economic recovery, all independent studies and analysis tell an entirely different story,” said Fung. “The renaissance that we have enjoyed in Cranston has not materialized in other parts of the state. As Governor, I will change that.”