Spending information point out Maine could have dodged financial slowdown

Mainers purchased extra objects early this spring from automobiles to family items, a constructive indicator that the nation could have prevented the financial slowdown many thought was coming.

Client confidence was up in July to its highest degree in two years throughout low- and high-income earners, reflecting present financial situations and expectations, in response to The Convention Board. That could be a turnaround from the largely diminished shopper sentiment final yr, when worries a couple of doable recession and inflation-based value rises persevered. U.S. Census information in June confirmed a key space of buying, U.S. retail and meals companies, had been additionally up — an increase of 1.5 % from a yr in the past.

Maine gross sales tax information confirms the nationwide development that buyers are spending cash. Whole gross sales taxes for Might, which mirror purchases, had been up 3.3 % from the earlier yr and up greater than 15 % from April, in accordance to Maine Income Companies.