BOSTON — It had been modestly moving along, but now a leading group of local economists says the Massachusetts economy is showing signs of slowing down.
An analysis published in the journal MassBenchmarks says demand for products and services in the state’s high-tech sector is flattening.
“The state economy has been growing faster than the nation for a number of months, but we fully expect the growth rate in the state to fall back down toward the national rate in the coming months. In fact, we expect employment in the state to be flat over the next quarter,” said UMass Amherst economics professor Robert Nakosteen, MassBenchmarks’ executive editor.
“We just happened to have what’s called an industry mix that fit right in to the pattern of business spending, but that’s now flattening out. Businesses are not going to spend a lot more until they have customers walking in the door.”
For the first time in its 14-year history, Nakosteen says the journal’s editorial board is making a political recommendation that lawmakers consider additional stimulus.