Report Revises Down Mass. Economic Growth In 2011
The Massachusetts economy didn’t grow as fast last year as economists thought.
An economic index known as MassBenchmarks has revised down the state’s economic growth in 2011, from 2.9 percent to 1.8 percent.
Northeastern University economist Alan Clayton-Matthews says the new figures reflect lower job growth estimates in 2011.
"Earlier, we had thought that Massachusetts significantly outperformed the rest of the country last year," Clayton-Matthews said. "And now it looks like the performance was about equal."
The national economy grew at a rate of 1.6 percent in 2011.
But Clayton-Matthews says that revised economic picture does not change estimates going forward. He's still forecasting stronger growth in the state economy and jobs this year.
"I don't see any reason to believe why a slower estimate of growth last year would result in a slower projection of growth going forward," he said. "In fact the beginning of the year looked like it started off pretty good."
This program aired on March 21, 2012. The audio for this program is not available.