Mass. Economy Slowing, But Again Outpaces U.S. In 3rd Quarter
Massachusetts continues to outpace the nation in economic growth, but experts see signs that the expansion is slowing in the Bay State.
The journal MassBenchmarks reported Thursday that the gross state product grew at an annual rate of 3.9 percent in the third quarter, compared with a 2.5 percent national growth rate.
It was the fifth straight quarter the Massachusetts economy outperformed the U.S. as a whole.
Economists also reported a net loss of jobs in Massachusetts in August and September. And growth in spending and income slowed in the third quarter, according to withholding and sales tax collections.
The state economy is forecast to grow at a 2.9 percent rate over the next six months.
MassBenchmarks is a collaboration of the University of Massachusetts Donahue Institute and the Federal Reserve Bank of Boston.
This program aired on October 27, 2011. The audio for this program is not available.