ME consumer confidence stalled
Consumer confidence in Maine is still weak two years after hitting a historic low, according to a new survey from Portland-based Market Decisions Inc.
After bottoming out in July 2008, consumer confidence rose for three quarters but has stalled at a low level since April 2009. In July 2010, all four measures of consumer sentiment had dropped from April 2010, according to the survey. Forty-two percent of Mainers said they were worse off than one year ago, while only 19% said they expected to be better off next year. Half of those surveyed predicted bad financial times for the state and the country in the next 12 months. Curtis Mildner, president of Market Decisions, said in the release that "consumer spending is and will remain weak."
Market Decisions surveyed 401 Maine residents between July 14 and Aug. 3.
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