Manufacturing
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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
Sensata Technologies Holding N.V. reported second-quarter net income of $63.9 million, or 37 cents per diluted share, more than three times the $20.4 million, or 11 cents per diluted share, reported for the same period last year. 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
Take a poll of machine shop and manufacturing company owners in Rhode Island and they’re all likely to tell you the same thing, said David Maynard, co-owner of Dean Machine in Cranston. more
U.S. stocks rose, with the Standard & Poor’s 500 Index extending a record, as Facebook Inc. rallied on higher sales and growth in global manufacturing offset a drop in home sales. more
The number of Americans filing applications for unemployment benefits unexpectedly dropped last week to the lowest level in more than eight years. more
Raytheon Co., the world’s largest missile maker, said second-quarter sales fell 6.8 percent as all four of its divisions reported declines. more
The Governor’s Workforce Board has awarded a total of $1.1 million in Industry Partnership grants to eight groups with proposals aimed at addressing the skills gap in Rhode Island. more
General Dynamics Corp., the Pentagon’s No. 3 contractor, raised its full-year profit forecast while second-quarter sales declined in a slumping defense market. more
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