Mass. loses its edge over US in economic growth

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By Todd Wallack | The Boston Globe | September 28, 2012

The Massachusetts economy, which had been expanding faster than the national average, thanks largely to the state’s strengths in technology and medical research, is now barely growing at all because of economic problems around the world, according to a group of nearly a dozen local economists.

The MassBenchmarks panel reported Thursday that the state’s economy has slipped into “lower gear” because of the European debt crisis, slower growth in China, reduced US business investment in technology, and growing uncertainty in Washington over the future of taxes and budget spending.

“It’s a little ugly,” said Northeastern University economist Alan Clayton-Matthews, senior contributing editor for MassBenchmarks, who predicted the Massachusetts economy would grow at a meager 1 percent in the third quarter of this year. “We are no longer growing faster than the nation.” Read More

State economy grows faster than US, but slowdown coming, UMass reports

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By Megan Woolhouse | Boston.com | July 27, 2012

Massachusetts’ economy continued to grow at faster rate than the nation’s largely due to the strength of the state’s technology industry, but national and international developments are expected to slow the pace to the recovery here, according to a quarterly analysis released Friday by the University of Massachusetts.

The state economy grew at an annual rate of 4 percent between April and June, more than double the national rate, according to UMass. The US Commerce Department reported Friday the nation’s economy grew at a 1.5 percent, a sluggish pace, but slightly better than economists forecast. Read More

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