Mass. economy keeps pace with US growth as resilience clouds rate outlook
The news: A report on the Massachusetts economy underscores the strength of the national expansion.
- The state’s gross domestic product grew at a 2.9 percent annualized rate from July through September, up from 1.9 percent in the previous three months, according to MassBenchmarks, a research collaboration between the UMass Donahue Institute and the Federal Reserve Bank of Boston. (US GDP increased 2.8 percent in the third quarter.)
- Local employers boosted payrolls by an annualized 0.7 percent, a modest increase over the second quarter.
- Inflation in the Boston metro region, as measured by the consumer price index, slowed to 3.4 percent for the 12 months through September from 4 percent in the June period, according to MassBenchmarks’ analysis of Bureau of Labor Statistics data.
Read article: Mass. economy keeps pace with US growth as resilience clouds rate outlook
November 25, 2024
