March 12, 2008
Consumer confidence drops in Maine
A report released yesterday finds that Mainers' pessimism about the economy has deepened to the lowest levels since 2000 and has fallen off sharply in the past year.
After polling 400 Mainers between January and February, the Portland firm Market Decisions reported that 68% said they expect businesses to struggle financially in the next 12 months, the highest number since the poll began in 2000. Last April, 37% predicted bad business times ahead.
And consumers are cutting back: 56% of those polled said now is a bad time to make a major purchase, up from 23% who said the same in July. Many Mainers are feeling insecure: 43% said they are worse off financially than they were last year, with 22% predicting their situation will deteriorate over the next year.
After polling 400 Mainers between January and February, the Portland firm Market Decisions reported that 68% said they expect businesses to struggle financially in the next 12 months, the highest number since the poll began in 2000. Last April, 37% predicted bad business times ahead.
And consumers are cutting back: 56% of those polled said now is a bad time to make a major purchase, up from 23% who said the same in July. Many Mainers are feeling insecure: 43% said they are worse off financially than they were last year, with 22% predicting their situation will deteriorate over the next year.
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