New England News
4:35 pm
Fri April 26, 2013

Massachusetts Economy Grows Solidly In First Quarter

The Massachusetts economy outpaced the  nations as a whole during the first  three months of this year.  

   The U.S. gross domestic product grew at a rate of 2.5 percent in the first quarter of 2013. By contrast, the state’s economy grew by 3.9 percent, according to MassBenchmarks, the UMass economic journal.  Robert Nakosteen, a UMass Amherst economics professor said the Massachusetts economy was bolstered by a strong technology sector, growth in construction, and a stunning  jump in personal income.

   Nakosteen said the for the rest of the year, the economy will buck headwinds coming from the across the board federal spending cuts..