A program of the Economic and Public Policy Research Group at the UMass Donahue Institute
in collaboration with the Federal Reserve Bank of Boston
In the fourth quarter of 2023, Massachusetts real gross state product (GDP) increased at an annual rate of 1.2 percent, according to MassBenchmarks, while U.S. GDP increased at a 3.3 percent annual rate, according to the U.S. Bureau of Economic Analysis (BEA). According to the BEA, in the third quarter of 2023, Massachusetts GDP grew at an annual rate of 4.8 percent while U.S. GDP grew at an annual rate of 4.9 percent. In the first and second quarters of 2023 the BEA estimates that Massachusetts GDP declined by 2.9 percent and grew by 2.9 percent respectively, while U.S. GDP grew at 2.2 percent and 2.1 percent respectively.
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University of Massachusetts Amherst
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Hadley, Massachusetts 01035
