BOSTON (AP) - A new economic report says the Massachusetts economy appears
to be slipping into a "lower gear" after a lengthy period in which it
grew faster than the nation as a whole.
In comments released on Thursday, the editorial board of MassBenchmarks said
deteriorating global economic conditions are taking a toll on the state's
innovation and technology sector - a traditional strength of the Massachusetts
economy.
The report also noted that Massachusetts merchandise exports are down from a
year ago.
The economists did note that stronger activity and higher prices in the
housing market is a bright spot for the state economy. It did not forecast a
recession.
MassBenchmarks is a journal of the Massachusetts economy published by the
University of Massachusetts Donahue Institute in collaboration with the Federal
Reserve Bank.
