Massachusetts economy declined 6.1% in first quarter says economists who warn of more coronavirus pain to come
From the article:
The Massachusetts and U.S. economies currently are in a recession that began in the second half of March, triggered by the impact of the COVID-19 pandemic, MassBenchmarks, a study of the state’s economy put out by the Federal Reserve Bank of Boston and the UMass Donahue Institute.
In the fourth quarter of 2019, both Massachusetts GDP and U.S. GDP grew by 2.1 percent.
And even those numbers probably don’t reflect the extent of the damage, according to the report. They are based on statistics gathered in the middle of March, before the shutdowns went into effect.
May 05, 2020