Housing bulletin from MassBenchmarks cited in Worcester Business Journal
A MassBenchmarks housing bulletin has recently been recognized in the Worcester Business Journal. The bulletin observes that the state's economy grew at a rate of about 3 percent in the third quarter compared to the expected 3.9 percent and the national rate of 4.9 percent.
State economic growth has slowed since the first quarter of 2007, when it grew at a 4.0 percent rate, according to the bulletin. The slowdown is directly related to the impact of the declining housing market, the sub prime mortgage shakeout in the finance sector and the high cost of heating oil and gasoline.
On a positive note, there is growing national and worldwide demand for technology-based products and knowledge-based services that Massachusetts supplies.
Read the Economic Currents: 2007's Housing Market bulletin
January 17, 2008