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August 21, 2009

Maine consumer confidence picking up

By The Mainebiz News Staff

Consumer confidence in Maine has begun to bounce back, according to a survey released by Portland-based Market Decisions.

The survey, conducted last month among 400 Maine adults, showed most Mainers think we've turned a corner and that the economy is improving, according to a company release. The survey carries a 4.9% margin of error.

Among the findings:

• The percentage of those who said they were worse financially than a year ago was 47%, down from 57% in the same survey in October 2008.

• The percentage of those who said they will be better financially a year from now was 25%, up from 21% in the October 2008 survey.

• The percentage of those who said that during the next 12 months they expect the country as a whole to have good times financially was 27%, an increase from 12% in October 2008, and the percentage of those who said that during the next 12 months they expect bad times was 60%, down from 72% in October 2008.

• The percentage of those who said that during the next 12 months they expect Maine to have good times financially was 21%, up from 11% in October 2008, and those who said that during the next 12 months they expect bad times was 65%, down from 76% in October 2008.

• The percentage of those who said that in the country as whole we'll have continuous good times during the next five years or so was 34%, up from 26% in October 2008, and those who said that we will have periods of widespread unemployment or depression was 55%, down from 57% in October 2008.

Market Decisions has been conducting this survey since 1992. Last year's summer and fall reports reflected historic lows in consumer confidence, according to the release.

 

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