Economic activity in Massachusetts outpaced the nation’s growth rate in the last three months of 2013.
The economic journal MassBenchmarks reports the state’s economy grew at a 5.5 percent annual rate in the fourth quarter of last year. The U.S. Commerce Department on Thursday put the country’s gross domestic product at 3.2 percent during the same period. Robert Nakosteen, a MassBenchmarks editor and UMass economics professor said the state’s economy was boosted by rising exports and improved consumer spending.
"Across a fairly wide spectrum of fundamental issues our state is doing well."
But Nakosteen said woes persist in the state’s labor market where the unemployment rate remains stubbornly high at 7 percent..
