Mass. Economy Growing But Precarious
Economists say the state's economy is growing strongly, but they also warn that state and local budgets, unemployment and Europe's troubles are still serious threats to recovery.
The MassBenchmarks Current Economic Index increased at an annualized rate of 5.9 percent in April. Its Leading Index, which is a measure of economic expectations for the coming six months, increased by 5.1 percent in April.
Massachusetts is adding jobs and tax revenues are expanding, MassBenchmarks noted, but debt problems in Europe, where a great quantity of the state's exports are destined, could blunt the state's recovery.
Replacing middle class jobs lost during the recession will be a key problem for public policy makers, who must also navigate local budgets through conditions that threaten layoffs among teachers, firefighters and other public service jobs.
MassBenchmarks is published by the UMass Donahue Institute in collaboration with the Federal Reserve Bank of Boston.
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