July 30, 2010
UMass: State Economy Grew in Q2
By Brandon Butler
The Massachusetts economy grew at a 6.4 percent annualized rate in the second quarter of the year, up from 3.1 percent in the first quarter, according to the University of Massachusetts Donahue Institute's MassBenchmarks report.
The state's economy posted strong gains in the quarter, which were somewhat offset by a slowdown in the economy toward the end of the quarter.
The government hiring census workers stabilized the unemployment rate while private sector employment rose 4 percent in the quarter, according to the report.
The report predicts that the Massachusetts economy will grow at a 6.1 annualized rate in the next three months and at a 6.2 percent rate over the next six months.
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