Updated January 25 at 4:55pm
Economic Indicators
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Real gross domestic product in Massachusetts grew at an annual rate of 4.9 percent in the second quarter, reversing the economy’s contraction in the first quarter and outpacing U.S. economic growth for the same period, local economy journal MassBenchmarks reported in its Current Economic Index Wednesday. more
Gains in consumer spending and business investment helped the U.S. economy rebound more than forecast in the second quarter following a slump in the prior three months that was smaller than previously estimated. more
The Providence-Fall River-Warwick metro area unemployment rate dropped in June to 7.1 percent nonseasonally adjusted, nine-tenths of a percentage point lower than the 8 percent reported a month earlier, the U.S. Bureau of Labor Statistics said Wednesday. more
Confidence among U.S. consumers soared in July to the highest level in almost seven years as Americans grew more upbeat about the labor market and the outlook for the economy. more
The homeownership rate in the U.S. fell to a 19-year low as rising prices and tight credit kept many first-time buyers out of the property market. more
Sales of single-family homes in Massachusetts posted a year-over-year increase in June for the first time since January, real estate data tracking firm The Warren Group reported Tuesday. more
Federal Reserve Bank of Boston President Eric Rosengren said the central bank should act to bring down “stubbornly, and unacceptably, high” joblessness that’s been stuck near 9 percent or above since April 2009. more
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