MassBenchmarks Issues Third Quarter Economic Assessment

The latest MassBenchmarks quarterly economic assessment, an initiative of the UMass Donahue Institute and the Federal Reserve Bank of Boston, shows the pace of growth in Massachusetts slowed in the third quarter, with supply chain and continuing pandemic impacts creating headwinds for the commonwealth’s economic recovery.

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The state’s real gross domestic product (GDP) increased at a 2.0 percent annualized rate, according to MassBenchmarks, while U.S. GDP increased at a 2.0 percent rate, according to the U.S. Bureau of Economic Analysis. The full report can be downloaded from the institute’s website.

The UMass Donahue Institute is based at UMass Amherst. The MassBenchmarks project mobilizes economic experts within the UMass system and from other public and private research institutions around the state to produce and distribute relevant assessments of the Massachusetts economy through reports, commentary and analysis. The quarterly Massachusetts Current and Leading Indexes discusses Massachusetts GDP growth relative to the national economy and analyzes trends seen in key indicators. It is developed by Alan Clayton-Matthews, senior contributing editor of the MassBenchmarks journal.

In addition, the meetings of the MassBenchmarks editorial board provide a forum for focused discussion about current conditions and the outlook for the Massachusetts economy. Commentary and key points from the discussion are summarized and released to provide regular updates about economic conditions to the general public.