State economy continues to outpace the U.S. in 3rd quarter
Massachusetts real gross domestic product grew at an annual rate of 3.7 percent in the third quarter of 2016 according to the MassBenchmarks Current Economic Index. Nationally, real gross domestic product grew at a more modest annual rate of 2.9 percent during the same period. Based on the latest available data, MassBenchmarks now estimates that the state's economy expanded at a 3.6 percent rate in the second quarter and 2.0 percent in the first quarter of this year, as compared to U.S. growth of 1.4 percent in the second quarter and 0.8 percent in the first quarter, as estimated by the U.S. Bureau of Economic Analysis.
MassBenchmarks, the journal of the Massachusetts economy, is published by the UMass Donahue Institute in collaboration with the Federal Reserve Bank of Boston.