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The state’s economy slowed moderately in 2007, the beginning of a slowdown that may last several years. The deceleration was precipitated by a downturn in the housing market that, in Massachusetts, began in late 2005, and gained downward momentum in 2006. Last summer, fi nancial havoc from sub-prime mortgage defaults and falling prices throughout most of the nation tipped the nation’s economy to the brink of recession. This year, soaring energy prices threaten to weigh down the economy further, neutralizing the fi scal stimulus package that is coming on line now.


Published in MassBenchmarks, Vol. 10, No. 2, pp. 4-11:


University of Massachusetts Donahue Institute



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