Real gross domestic product in Massachusetts grew at an estimated annualized rate of 5.4 percent in the second-quarter of 2015, according to figures released this week by MassBenchmarks.
Once again, the Greek debt crisis is causing stock markets around the world to tumble and raising questions about the long-term future and stability of the euro currency and the European Union. Could Greece’s woes wash up on the shores of Massachusetts and stall the state’s thriving economy, which has seen unemployment drop to the lowest levels since 2007?
The jobs picture keeps getting brighter in the Bay State. The Massachusetts unemployment rate slid to 4.6 percent in May from 4.7 percent the previous month, matching the low point before the so-called Great Recession began in December 2007, the state Executive Office of Labor and Workforce Development reported Thursday.
The Massachusetts economy has brushed aside the record snowfall that hobbled businesses earlier this year to post impressive gains in employment, wages, and consumer spending, outpacing the nation as a whole. And the state’s economic growth is expected to accelerate, according to a report by the New England Economic Partnership, a nonprofit group of regional economic researchers.
Europe and China are among Massachusetts biggest export markets and the weakening of those economies could affect the state’s economic growth, said Alan Clayton-Matthews, an economics professor and Northeastern University. Among the questions are whether Europe will slip back into recession and China’s overheated real estate market will end in a bust that would unsettle the global economy.