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November 13, 2009

Consumer confidence still low

By The Mainebiz News Staff

Maine consumer confidence is on the rise, but still far short of historic highs, according to new data from Portland's Market Decisions.

The index of consumer sentiment in October was 62.0, an increase from 46.6 in October 2008, but well below the historic high of 104.4 in April 2000, according to a press release from Market Decisions. For the first three quarters of this year, consumer confidence increased slightly over last year, but has not made significant improvements. In one bright spot, 42% of consumers said now is a good time to make a major purchase, double the 21% who made the same assertion in October 2008.

Market Decisions polled 404 Maine residents to compile the survey, which has a 4.9% margin of error.

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