PROVIDENCE, R.I. (AP) – A Rhode Island public policy research group says the state’s economy grew faster than the nation’s economy over the past 40 years, but lags behind the New England region.
The Providence Journal reports the Rhode Island Public Expenditure Council report says Rhode Island’s gross domestic product grew 5.2% annually from 1979 to 2018.
The nation’s annual growth was 2.3% and New England’s was 5.6% during that time period.
The council’s president and chief executive, John Simmons, says a large portion of New England’s economic activity can be attributed to the city of Boston.
The report also found that Rhode Island has some of the highest energy costs in the county, which may explain its low energy consumption.
The council is issuing reports to help policymakers updating the state economic plan.
