The latest MassBenchmarks report showed a state economy in full forward speed, with an annualized growth rate of roughly 5 percent projected for the first half of 2014.

The happy times are here again, right?

Well, not exactly. Sure, when I talked to Alan Clayton-Matthews, a Northeastern University economist and report author, he seemed hopeful the big risks are behind us now. Europe’s doing better. The warring sides in Congress seem to have reached some sort of budget d├ętente. Here in Massachusetts, employers added an estimated 55,000 jobs in the past year, a number that Clayton-Matthews figures will go up once revised numbers arrive in a couple weeks.