Statewide numbers paint a picture of declining employment and output, continuing widespread layoffs, slow wage and income growth, rapidly declining consumer confidence, weak consumer spending, stagnant tax revenues, high vacancy rates in the commercial real estate market, and no clear sign of growth in demand for the state’s technology products.
Clayton-Matthews, Alan, "Economic Currents: The State of the State Economy" (2003). Public Policy and Public Affairs Faculty Publication Series. 36.
University of Massachusetts
Published in MassBenchmarks, Vol. 6, No. 1, pp. 4-9: http://www.massbenchmarks.org/publications/issues/vol6i1/3.pdf.