Worcester’s road to recovery
The Worcester Telegram & Gazette examined the slow pace of economic recovery in an article which cited data on economic growth from MassBenchmarks’ Current and Leading Indices. The article, presented as a year-end assessment of the economy and Worcester’s prospects for growth, looked at unemployment rates, home sales numbers, consumer spending and an overall confidence index. With a range of large scale construction projects, the Worcester area has been able to draw private investment and add jobs; it was recently ranked third in the country for job growth.
Although the recovery has been slower than economists previously predicted, MassBenchmarks, an economic journal put out by the UMass Donahue Institute’s Economic and Public Policy Research unit in cooperation with the Federal Reserve Bank of Boston, measured Massachusetts’ economic growth in the third quarter of 2011 at 3.9 percent, while the national economy grew at a rate of 2.5 percent.
Read article: Local, national economies make slow progress
December 25, 2011