June 15, 2016
Maine’s Q4 GDP growth lags national, regional growth
By Staff
Maine’s Gross Domestic Product growth in the fourth quarter of 2015 was behind both national and regional figures, according to a release on Wednesday by the U.S. Bureau of Economic Analysis.
In the final three months of 2015, Maine’s GDP rose at a rate of 1.3% compared to the 1.7% national growth rate and the 2.1% rate of New England, according to the BEA’s release. Maine’s 1.3% Q4 rate was down from the third quarter, when the bureau reported a 2.1% growth rate.
According to the release, Maine’s construction industry in Q4 was responsible for more than a quarter of the state’s GDP increase at 0.29%, while the utilities, finance and insurance and government sectors dropped in their growth during Q4.
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