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By Lynn Arditi, Providence Journal, R.I. Knight Ridder/Tribune Business News
May 13--PROVIDENCE, R.I.--The only thing worse than a static economy is a deteriorating one, and that's the latest forecast for Rhode Island.
A local index of leading indicators released today predicts that the economy will deteriorate at least through the summer, with no rebound possibly until next year.
A steep drop in new home construction along with declines in air passenger travel and a stagnant job market during the first three months of this year are major factors in the more pessimistic outlook from the University of Rhode Island/Providence Journal Index of Leading Economic Indicators.
The index forecasts six to nine months from the first-quarter of this year, which means through September …