Worcester's economy is expected to grow at about 1.5 percent on an annualized basis for the first three to six months of 2014, according to a report by an Assumption College economics professor.
That would outpace growth of about 1 percent during the last half of 2013, the inaugural four-page study by Thomas White said.
A favorable interest rate spread (the difference between the yield on a 10-year Treasury bond and the federal funds rate) and credit market conditions are reasons for optimism early this year, White said. However, Worcester's economy has previously grown by a smaller margin than anticipated based off national leading indicators.
Local indicators – which include local incorporations, building permits, help-wanted ads and initial unemployment claims –were also favorable for all but one month during 2013, White said.
White said he will compile quarterly reports on the city's economic performance.
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