Mass. economic growth outpaced U.S. in 2014
The Massachusetts economy grew at a 2.3-percent annual rate last year, the best of the New England states along with New Hampshire, and slightly better than the nation’s, which was 2.2 percent, according to new data from the Commerce Department.
The Bay State ranked 15th among the 50 states in economic growth. North Dakota ranked at the top, with a 6.3-percent annual growth rate; Alaska finished at the bottom, with a 1.3-percent drop in growth, the Commerce Department said.
In all, 48 states saw their economies grow last year, according to the data.
Massachusetts’ growth nearly doubled from 2013, when the Bay State economy advanced at a 1.2-percent annual rate. The U.S. rate also improved from a jump of 1.9 percent.
Professional, scientific, and technical services made up the largest contributor to growth in the nation’s economic output, or gross domestic product, and was a large contributor to Massachusetts’ growth, the Commerce Department said.
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