Massachusetts - we’re #1!
Good news. The Massachusetts economy is growing. Fast.
From the Jones Lang LaSalle monthly “Market Intelligence” report:
Massachusetts continued to grow in the second quarter at an annualized rate of 3.6% according to MassBenchmark’s Current Economic Index, down from an impressive 4.1% showing in the first quarter.
The [C]ommonwealth’s growth has outpaced the U.S. through the first half of the year. After a record setting 2006, Massachusetts has seen a 10% increase in exports over the first five months of year. There is a high demand globally for Massachusetts produced products particularly pharmaceutical goods (up 39.7%) and industrial machinery, including computers (up 26.3%). The state has also benefited from strong global growth and a weak dollar.
The analyst also sees less reason to worry about inflation getting out of control.
Great, more reasons for the Fed to lower the Fed Funds rate, when they meet in mid-September.
Which is unnecessary, in my opinion (’cuz I’m an economist?).
More: The Real Estate Market Intelligence Monthly - By Lauren Picariello, Jones Lang LaSalle
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