By Robert Gavin | The Boston Globe | January 30, 2013
No one is calling it a return to boom times, but the state’s economy grew modestly in the final three months of 2012, even as the US economy unexpectedly contracted slightly, the University of Massachusetts reported Wednesday.
The contrast offered further evidence the state is rebounding from the recession at a more robust pace than the nation as a whole, largely on the strength of its technology industries.
“This appears to be a slow quarter, but the Massachusetts economy is growing still,” said Alan Clayton-Matthews, a Northeastern University economist and author of the report. “And growth is going to pick up.”
The state’s economy grew at a 1 percent annual rate in the fourth quarter, while the Commerce Department said the US economy shrunk at an annual rate of one-tenth of a percent, largely because of a pullback in government spending. Read More