New England News
5:00 am
Sat October 27, 2012

Report Says Massachusetts Economy Slowing

A new report finds the Massachusetts economy slowed  sharply in the third quarter. WAMC’s Paul Tuthill reports

According  to the economic journal, MassBenchmarks, the state’s real gross domestic product grew by 1 point 9 percent in the third quarter of his year.  That put the state’s economy on a more sluggish pace than the nation’s.   The U.S. Commerce Department reported Friday that  GDP in the third quarter grew 2 percent.    The  MassBenchmarks report noted that payroll employment growth slowed in the third quarter and the state’s unemployment rate climbed a half percentage point.  Economists have said the Massachusetts  economy is being hurt by reduced demand  for technology products and a drop in exports to Europe.