J.P. Morgan projects slow recovery for ME
Maine will make modest gains but is projected to lag behind national averages for real gross domestic product growth over the next two years, according to a recent assessment by JPMorgan Chase and Co.
The regional study, released this month, projects that growth in Maine's real gross domestic product will be nearly half that of national averages through 2013 and 2014. However, those figures mark improvement for Maine's real GDP growth, which remained mostly flat since 2010 with a modest upward trend at the end of 2012.
For employment, the study projects modest growth nationwide while Maine's job count is expected to climb only modestly — by an estimated 0.1% each year.
Based on that projection, Maine's job count would remain just 95% of the pre-recession job total of 620,067 in 2007.
In a comparison with job totals from the fourth quarter of 2000, the study shows statewide employment lagging behind national growth over the next two years while Maine's metropolitan regions of Portland and Bangor are expected to fare better than the rest fo the state.
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