A report released Friday by the Maine Department of Economic and Community Development says the state has hit some of its 2030 targets but has fallen short of ‘where we need to be.’
economy
Posted inBusiness
U.S. growth slowed sharply last quarter to 1.6% pace, reflecting an economy pressured by high rates
A surge in imports, which are subtracted from GDP, reduced first-quarter growth by nearly 1 percentage point.
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Posted inBusiness, News
What does the Baltimore bridge collapse mean for Maine’s supply chains?
The effects won’t reach the state for over a month, one expert said. But there could be delays in restocking various goods, and consumers may see prices go up.
Posted inBusiness, Nation & World, News
Immigration is fueling U.S. economic growth while politicians rage
The surprising pace of U.S. job growth is attributable in part to immigrants.
Posted inBusiness, Nation & World
February retail sales up 0.6%, yet fissures emerge in what has been a driving force for U.S. economy
American shoppers picked up their spending a bit, but last month’s gain was weaker than expected.
Posted inBusiness, Maine
Economist sees solid growth ahead, but warns of looming overseas threats, historic federal debt
Commercial real estate vacancies remain high as employees choose to work from home, and leases and mortgages face renewal at higher interest rates, a TD Bank economist said Thursday.
Posted inBusiness, Nation & World
What recession? Forecasters raise expectations for U.S. economy in 2024
Though measures of inflation have plummeted from their heights and are nearing the Federal Reserve’s target level, many Americans remain unhappy that average prices are still about 19% higher than they were when President Biden took office.
Posted inBusiness, Nation & World
Recession has struck some of the world’s top economies. The U.S. keeps defying expectations
Both Japan and the United Kingdom said Thursday their economies weakened for a second straight quarter, which fits one lay definition for a recession.
Posted inBusiness, Maine, News
The economy is booming. So, why don’t people feel better about it?
A disconnect exists between big-picture indicators like unemployment and wages and the reality of day-to-day life for many in Maine, where groceries and housing costs remain stubbornly high.
Posted inBusiness
U.S. didn’t just avoid a recession – it’s adding hundreds of thousands of new jobs
Employers added a surprisingly robust 353,000 jobs in January in a further sign of economic strength.