Email Newsletters

Maine’s economy comes out swinging in first quarter

There’s good news for Maine from the U.S. Bureau of Economic Analysis, which looked at the gross domestic product of the country: The state made it into the top 10 in economic performance for the first quarter of 2016.

According to the report, which was released Wednesday, Maine’s economy produced $58.1 billion in goods and services in the quarter, up from both $55 billion during the same period last year and $57.6 billion for the fourth quarter of 2015.

Notable sectors that contributed to the growth in this year’s first quarter included health care and social assistance, which contributed 0.37%; durable goods manufacturing, which contributed 0.41%; finance and insurance, which contributed 0.26%; and construction, which contributed 0.53% in growth during the quarter.

– Digital Partners -