Massachusetts Economy Continues its Rapid Descent (MassBenchmarks) - March 27, 2009

The Massachusetts economy contracted at a 4.2 percent annualized rate in February according to the latest MassBenchmarks Current Economic Index. Recent data revisions indicate that the state economy declined at a 4.7 percent annualized rate in the fourth quarter of 2008, substantially worse than the 3.5 percent decline previously reported but comparatively better than the 6.3 percent annual rate of contraction the US experienced during the same period.

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