Certainly felt and looked that way to me based on my anecdotal observations.
"Headwinds at year’s end slowed state economy; But faster growth expected to return" by Megan Woolhouse, Globe Staff / January 29, 2011
The Massachusetts economy slowed significantly in the fourth quarter of 2010, lagging behind the US economy for the first time in a year, the University of Massachusetts reported yesterday.
During the profit-making holiday season we were told was a big winner?
After a burst of growth in the first half of last year, the recent slowdown reflected a state economy that has “paused to catch its breath, rather than one that is about to slow to a stop,’’ analysts said in the report. Still, the weak performance was another reminder of what has been a difficult and sluggish economic recovery....
And that there NEVER WAS A RECOVERY except for the ELITE CRUST that has MADE OUT on this whole thing.
History will record this period as the GRAND DEPRESSION for Amerika and the END of her EMPIRE!
Alan Clayton-Matthews, an economics professor at Northeastern University who prepared the estimates of state economic growth for the UMass report: “.... The economy still has a long way to go before it is in a sense ‘normal.’ ’’
Related: Boston Globe Business Pages Are Nothing But Bulls***!
I thought I smelled something familiar.
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The UMass analysis estimates spending based on state sales tax collections, but did not include December holiday collections, so the decline in spending may have been less, Clayton-Matthews said.
I don't like the sound of "estimates," do you?
He's saying they didn't count Christmas, huh?
Getting that SAME FAMILIAR Boston Globe SCENT in my NOSTRILS again!
The US consumer spending figure includes December activity....
For much of the past year, Massachusetts has recovered faster than the nation as a whole, in large part because the state economy relies more on business spending and technology, and less on consumer spending and housing. The state has a high concentration of firms that sell goods and services, particularly technology products, to other companies.
This is one of the reasons I no longer want to read the Globe. I'm so sick of shit-shoveling garbage passing itself off as news.
Massachusetts’ burst of growth in the first half of 2010 was fueled by an international spike in demand for technology products, including semiconductors and semiconductor equipment, the UMass analysts said.
Meaning NOT HERE, American.
And yeah, that SEMICONDUCTOR INDUSTRY is a JOBS GOLD MINE (sigh).
US business spending on technology products increased dramatically over most of last year, growing at annual rates above 20 percent in the first two quarters, and more than 15 percent in the third quarter, according to the Commerce Department.
Then WHERE are the F***ING JOBS?
But that spending downshifted dramatically in the fourth quarter, to an annual rate of less than 6 percent, the Commerce Department reported yesterday.
Related: Business spending climbs again
I guess there are two ways of shoveling.
With technology equipment sales at or near prerecession peaks, growth rates have leveled off, according to UMass analysts. As a result, so has the Massachusetts economy.
Yup, leveled off in a bog of shit, great.
“The technology sector has been driving our growth since the end of the recession and in the fourth quarter it continued to grow, but not as fast,’’ said Michael D. Goodman, an economic analyst and professor at the University of Massachusetts Dartmouth. “It’s pulling us forward but not as strongly.’’
Whatever.
Just because the Boston Globe says it doesn't make it true.
If anything, the OPPOSITE is LIKELY the TRUTH!
Related: Wealthy bolstering US consumer spending
I knew it had to be something because it's no one I know.
Despite slowing recently, the UMass report noted, demand for information technology remains at high levels and will help technology-based sectors, such as professional and technical services, to add jobs.
Yeah, when?
The state economy should begin to pick up and accelerate over the next several months, matching national economic growth rates, the report said.
I have been READING THAT for TWO FUCKING YEARS!!!!!!!!!!!!!!!!
Sorry, readers, but GOD DAMN IT, Globe!!!!!!!!!!!!!
The slowing of the Massachusetts economy was reflected in several areas, according to the report. The official unemployment rate fell to 8.2 percent in the fourth quarter from 8.7 percent in the third.
Related: Mass. employers cut 2000 jobs in Dec.
But SOMEHOW the UNEMPLOYMENT RATE went DOWN during the MAKE-or-BREAK HOLIDAY SEASON where extra help is needed!
But a broader measure of unemployment that includes workers who have taken part-time jobs because they can’t find full-time positions, and people who have dropped out of the labor force, rose to 14.2 percent last quarter from 13 percent in the previous three months.
Yeah, HI, READERS!!!
Btw, I AM DOING my OWN SWABBING of SHIT, if you know what I mean!
Jobs Americans won't do, huh?
That was still lower than the US rate of 16.9 percent in the fourth quarter.
Yeah, so DON'T WORRY, BE HAPPY, Bay-Stater!
Meanwhile, income growth in Massachusetts slowed, and consumer spending declined slightly as households reined in spending on computers, furniture, and appliances, according the UMass report....
I didn't buy any of that crap for Christmas. I can't afford any of those things now.
And it now occurs to me that most of my fellow citizens were the same way.
There may have been a lot of people out there shopping; however, they WERE ONLY LOOKING, NOT BUYING!
There are signs that the state economy will strengthen in coming months, according to the UMass report.
There they go again!
Stock prices of Massachusetts companies are up, rising 13 percent in the fourth quarter, according to the Bloomberg Massachusetts Index. Consumer confidence also increased, while first-time claims for unemployment benefits have declined.
Oh, stock prices are up. We are all saved.
“This is the slowest quarter I expect,’’ Clayton-Matthews said.
The CHRISTMAS SPENDING QUARTER the SLOWEST?
Next thing he'll be saying is up is down, black is white, war is peace.... sigh.
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Related: Rising Unemployment Not a Recession
Can you see why I'm skipping over the business section bulls*** these days, readers?
