Report finds solid growth in Mass. economy - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

Report finds solid growth in Mass. economy

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BOSTON (AP) - A report by the University of Massachusetts and Federal Reserve Bank of Boston says Massachusetts's economy grew at a strong 3.9 percent rate in the first quarter of the year.

The report says hiring increased in the January-to-March period, incomes rose and consumer spending improved.
The increase contrasts with a weaker 2.4 percent rate of growth at the end of last year. It's also stronger than national rate of growth in the U.S., which was 2.5 percent.
The Boston Globe reports that Massachusetts regained as of January all the jobs lost in the downturn even as U.S. employment remains below the prerecession peak.
The jobs growth in Massachusetts has helped boost incomes, which have been further supported by the strong stock market and rising home values, leading to stronger consumer spending.
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