Updated February 26 at 8:50pm
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
U.S. stocks fell, after the Standard & Poor’s 500 reached a record on July 24, as home sales declined and investors watched overseas crises before this week’s Federal Reserve policy decision. more
Exports from Rhode Island rose 15.6 percent in May compared with a year earlier, climbing to $190.4 million from $164.7 million in May 2013, according to an e-forecasting.com report released Monday. more
Fewer Americans than forecast signed contracts to buy previously owned homes in June, a sign residential real estate is struggling to strengthen. more
Rhode Island’s average hotel occupancy rate for May increased 4.7 percent over last May, exceeding the 3.6 percent rate for New England, and tourism experts say new and trusted marketing strategies, and pent-up demand are the reason. more
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