Supply chain disruptions and labor shortages are continuing to hold back economic growth, but index readings released Monday show the Massachusetts economy expanding for a sixth straight quarter and four straight quarters of growth for the U.S. economy.
Citizens said its national Citizens Business Conditions Index finished the third quarter at 57.1, down from the second quarter reading of 57.4. The state economy’s third quarter reading was 55, up from 53.1 in the second quarter. Readings above 50 reflect an expanding economy.
“Despite ongoing challenges from the pandemic, the third quarter was a period of strong demand across most sectors of the economy,” Citizens said. “With the continued support of low interest rates and fiscal spending initiatives, most sectors seem to have established a healthy trajectory of growth. Concerns over higher inflation have increased, and the employment sector still has ground to cover to…
