A program of the Economic and Public Policy Research Group at the UMass Donahue Institute
in collaboration with the Federal Reserve Bank of Boston
At the beginning of this year, 2023 appeared like a fairly strong year for the Massachusetts economy. Amidst fears of an imminent recession that never occurred, growth in real gross domestic product (GDP) in both Massachusetts and the U.S. stayed in expansion mode and was unexpectedly high. The growth came despite elevated interest rates that have been only partially successful, thus far, in bringing down inflation. The Massachusetts unemployment rate also hit record low levels and jobs growth was robust (at least it seemed at the time) with most industry sectors posting gains.
Read the Full SummaryIssue archive for "MassBenchmarks: Notes from the Board".
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University of Massachusetts Amherst
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Hadley, Massachusetts 01035
