Massachusetts Economy Expands Moderately in Q3, UMass Journal Reports
Massachusetts real gross domestic product grew at an estimated annualized rate of 3.2 percent in the third quarter of 2014, according to the MassBenchmarks Current Economic Index, the journal of the Massachusetts economy published by the UMass Donahue Institute in collaboration with the Federal Reserve Bank of Boston. During the same period, the U.S. Bureau of Economic Analysis found that U.S. real domestic product grew at an annual rate of 3.5 percent.
While the state's unemployment rate rose from 5.5 percent in June to 6.0 percent in September, MassBenchmarks economists see this increase as a sign that workers are gaining confidence in the economy and entering or reentering the labor force in greater numbers. In the third quarter, the state's labor force was 16,900 higher than in the second quarter, an annualized rate of increase of 1.9 percent.
Read the full bulletin, “Massachusetts Economy Expands Moderately in Q3, UMass Journal Reports,” (10/30/14)
October 30, 2014