The Donahue Institute at the University of Massachusetts, named in honor of the late Maurice A. Donahue of Holyoke, who served as president of the Massachusetts Senate (1964-71) and ran unsuccessfully for governor in the 1970 Democratic primary, issues a quarterly report on the state of our economy called MassBenchmarks. The latest one came out this past Friday, July 27, describing, in unequivocal detail, a Massachusetts economy that had expanded at a “torrid pace” in April, May and June. “The Massachusetts economy accelerated sharply in the second quarter,” the report states, “bucking the expectation of slower growth due to low unemployment and demographic constraints.” Here are some highlights: -The state’s gross domestic product grew at a 7.3% annualized rate while, nationally, it increased by 4.1%. -The number of payroll jobs expanded at a rate of 2.9%, compared to a 1.7% rate for the rest of the U.S. -Wage and salary income, as measured by state tax collecti...