PROVIDENCE, Rhode Island — A University of Rhode Island economist says the pace of the state's recovery stalled in February as the region was hit by a series of blizzards.
Leonard Lardaro said Monday the indicators he tracks monthly in his "Current Conditions Index" showed little improvement in February over February 2014.
He says there was a sharp drop in housing activity, particularly in the amount of new home construction, in February because of the harsh winter weather.
The index's overall level stood at 58 in February. Lardaro says without the extreme weather the overall level in February would have been 67, an improvement from January.
Nevertheless, Lardaro says the state's economy remains weak regardless of any impact the weather may have had, calling the economic recovery in Rhode Island "tepid."
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