April 30, 2007
Mass. economic growth outpaces nation
By Matthew L. Brown
According to the MassBenchmarks Current Economic Index, the commonwealth's economy grew by 4.7 percent during the first quarter of the year.
The growth outpaces the nation's and is the fastest rate of growth since the second quarter of 2003, according to MassBenchmarks.
The index was up 4 percent from March of last year.
MassBenchmarks said strong employment gains in high-tech, bioscience and health technology, and a falling unemployment rate, were responsible for Massachusetts' strong showing.
MassBenchmarks said the Commonwealth's economy "should be viewed with caution" in future months because of "softness in the housing market," and the possibility of rising inflation and interest rates.
The growth outpaces the nation's and is the fastest rate of growth since the second quarter of 2003, according to MassBenchmarks.
The index was up 4 percent from March of last year.
MassBenchmarks said strong employment gains in high-tech, bioscience and health technology, and a falling unemployment rate, were responsible for Massachusetts' strong showing.
MassBenchmarks said the Commonwealth's economy "should be viewed with caution" in future months because of "softness in the housing market," and the possibility of rising inflation and interest rates.
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