State and national economies poised for growth
The Boston Globe - 01/30/2014
In Massachusetts, unemployment also remains high — 7 percent in December, compared with 6.7 percent nationally. But Alan-Clayton Matthews, a Northeastern University economics professor and one of authors of the UMass report, said he expects those rates to come down.
He said the economy appears headed into a “classical recovery phase,” in which increased consumer spending encourages businesses to expand and hire, which boosts consumer confidence, which leads to more spending. In Massachusetts, sales taxes, an indicator of consumer spending, jumped at a 9.2 percent annual rate in the last three months of 2013, compared to 1.5 percent in the same period a year ago.