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New England economy seen improving, but unevenly

Associated Press

Publication: theday.com

Published May 22. 2013 11:00AM   Updated May 22. 2013 11:51AM

Hartford (AP) — A group of economists says New England is recovering from the worst recession in decades, with the strongest gains in Massachusetts and Vermont, while Rhode Island and Maine lag.

The New England Economic Partnership said Wednesday that external factors such as Europe's recession and federal spending cuts made in Washington are crimping the region's economy.

Through 2016, employment in New England is forecast to grow an average of 1.4 percent a year and economic growth will average 3.3 percent a year.

With slow growth, the region is not expected to return to its pre-recession employment level until 2015. The unemployment rate will remain lower than the U.S. average, but is not expected to be below 6 percent until 2015.

The housing market is posting increases in prices, sales, construction and employment.

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