Analysts Say Massachusetts Economy Is Slowing
A new report says the Massachusetts economy, which had been outpacing the national average, has slipped into a lower gear. WAMC’s Paul Tuthill reports.
Deteriorating global economic conditions have taken a toll on the state’s research driven economy, according to the new report from MassBenchmarks, an economic journal published by the University of Massachusetts. Exports, which include information technology and medical devices, are down from last year. Robert Nakosteen, an economist, who is a member of the MassBenchmarks editorial board says are few if any bright spots on the horizon.
The Massachusetts economy lost 8200 jobs in August. The state’s unemployment rate went up for the second consecutive month to 6.3 percent.