Business & Tech
State's Economic Growth Outstrips Nation's
The Bay State mustered a growth rate of 3.5 percent compared to 2.8 percent for the whole country.
Written by Chris Helms
By at least one measure, the Massachusetts economy is outperforming that of the nation as a whole.
Bay State growth in the third quarter ran 3.5 percent to the U.S. economy's 2.8 percent, according to numbers crunched by an academic journal.
A recovering housing market and continued spending by households and businesses helped buoy the local economy, according to thelatest MassBenchmarks Current Economic Index from the UMass Donahue Institute and the Federal Reserve Bank of Boston.
But spending cuts from the federal sequester and an increase in payroll taxes kept the Bay State economy from even better performance. That's the analysis of experts interviewed by the Boston Herald.
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