New England News
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..