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Full-Text Articles in Social and Behavioral Sciences
Economic Currents: The State Of The State Economy, Alan Clayton-Matthews
Economic Currents: The State Of The State Economy, Alan Clayton-Matthews
Public Policy and Public Affairs Faculty Publication Series
Over the course of the summer, the Massachusetts economy appears to have begun to turn the corner. In the first quarter of this year, gross state product, as measured by the current index for Massachusetts, experienced its ninth consecutive quarter of decline. In the second quarter, it was flat, and in the third quarter, managed to eke out a small gain, growing at an annualized rate of 0.4 percent. The shift in direction is being led by a recovery in demand for, and production of, technology products that began at the end of 2002, and has continued to gather momentum …
Economic Currents: The State Of The State Economy, Alan Clayton-Matthews
Economic Currents: The State Of The State Economy, Alan Clayton-Matthews
Public Policy and Public Affairs Faculty Publication Series
The state economy appears poised for future growth, but serious issues remain. The “unwinding” of the economic excesses of the 1990s is delaying a genuine economic turnaround, but many other issues are weighing heavily on the economy. These include the risk of terrorism, weak global economic performance, a weak dollar (this issues cuts two ways), and the threat of deflation. When a recovery arrives, job growth will probably lag, and be modest when it appears. We should not expect to return to the heady days of the late 1990s anytime soon.
Economic Currents: The State Of The State Economy, Alan Clayton-Matthews
Economic Currents: The State Of The State Economy, Alan Clayton-Matthews
Public Policy and Public Affairs Faculty Publication Series
Statewide numbers paint a picture of declining employment and output, continuing widespread layoffs, slow wage and income growth, rapidly declining consumer confidence, weak consumer spending, stagnant tax revenues, high vacancy rates in the commercial real estate market, and no clear sign of growth in demand for the state’s technology products.