The 9.7 percent jump is more than double the usual growth rate.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
Stocks rally after Fed announces faster pullback, rate hikes
The central bank plans to shrink its monthly bond purchases at twice the pace it previously proposed, likely ending them altogether in March.
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Posted inBusiness, Maine, News
Judge hears arguments in New England power line case days before law takes effect
Judge Michael Duddy said he will decide within the next two days whether or not to grant an injunction that would keep Maine’s voter-approved transmission line law from taking effect.
Posted inBusiness, Maine
Waterville downtown restaurant closed for numerous health violations, state report says
Cancun Mexican Restaurant must immediately address violations found by a state health inspector, according to a report dated Dec. 8.
Posted inBusiness, Nation & World
Retail sales rose a modest, seasonally adjusted 0.3% in November
News about shortages may have pushed some to begin holiday shopping early, in October.
Posted inBusiness, Kennebec Journal, Maine
Organic dairy farmers in Maine, Northeast offered new assistance in wake of contract cancellations
The proposal falls short of what state officials and organic agriculture groups had sought after Horizon Organic announced in August that it would not renew dairy contracts with organic dairy farms across the Northeast, including 14 in Maine.
Posted inBusiness, Maine, Nation & World
Passenger rail receives historic funding as Downeaster turns 20
In Maine, municipal leaders want to see the Boston-to-Brunswick service expanded to other parts of the state, and a bill signed by the governor would study the issue.
Posted inBusiness, Nation & World, Politics
Congress sends Biden $2.5 trillion debt limit hike, avoiding default
The House gave final approval to the legislation early Wednesday morning on a near-party-line 221-209 vote.
Posted inBusiness, Nation & World
Fed will tighten credit faster, expects to raise interest rates 3 times in the coming year
In an abrupt policy shift, the Fed announced Wednesday that it will shrink its monthly bond purchases at twice the pace it previously announced.
Posted inBusiness, Maine, News, Politics
Gov. Mills nominates attorney as next public advocate
William Harwood is an attorney with broad experience working on utility issues and currently serves as the senior adviser for regulatory affairs in the governor’s energy office.