Report: Mass. economic growth slows in 4th quarter

BOSTON (AP) - A new report finds the Massachusetts economy grew at a slower clip than the U.S. economy as a whole during the final three months of last year. It was the first time in six quarters the state's growth has not outpaced the nation.

The MassBenchmarks estimate released Friday showed the state's gross product grew at an annual rate of 2.3 percent in the fourth quarter. The Commerce Department says the U.S. gross domestic product grew 2.8 percent annualized during the same period.

Among for the factors cited by economists for the relative slowdown in Massachusetts growth was the worldwide softening of demand for information technology during the latter part of 2011. Another factor may have been the European debt crisis affecting Bay State exports.

MassBenchmarks is published by University of Massachusetts Donahue Institute and the Federal Reserve Bank of Boston.