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Rhode Island Economic Index Drops in August.

By Lynn Arditi, Providence Journal, R.I. Knight Ridder/Tribune Business News

Oct. 15--An index of the Rhode Island economy declined sharply in August, as building activity slowed, manufacturing hours fell and layoffs increased.

The Current Conditions Index dipped to the neutral value of 50, meaning that the economy was basically static. The index, which had been hovering at 50 during April and May, dipped to 42 in June, before bouncing back strongly in July to 75.

The erratic pattern of the index is "a vivid reminder of just how uneven the pa

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