Regional economy still isn’t gathering steam

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By Dan O’Brien | The Lowell Sun | October 28, 2012

John Mattheos, owner of Salon Mattheos, has been building his brand in Lowell for 20 years. He’s seen strong economic times and weak ones.

Earlier this year, Mattheos took advantage of a still-depressed real-estate market to scoop up a foreclosed property on Rogers Street, then invested tens of thousands of dollars to renovate it into a salon.

“I grew up in this neighborhood, Belvidere, so I figured I would do really well here,” Mattheos said in a recent interview. “It’s been OK. But I really thought I’d be able to get to that next level by now.”

More than three years after the last recession (supposedly) ended, many businesses are just not seeing the strong comeback they anticipated would happen.

Because it really hasn’t happened.

A report released Friday from MassBenchmarks, a journal of the Massachusetts economy published by the UMass Donahue Institute in collaboration with the Federal Reserve Bank of Boston, found that economic growth in Massachusetts was a mere 1.9 percent during the third quarter. Read More

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