A new federal report has ranked Maine 47th in terms of economic output growth for 2014, saying that the state’s total economic output remained flat from the previous year.
The Bangor Daily News said the report comes from the U.S. Bureau of Economic Analysis, which said Maine’s total economic output increased by an estimated 0.2%, far below the 1.6% growth posted for New England and 2.2% growth nationally.
The report, which is made up of preliminary estimates, said health care, social assistance and management sectors drove the increase. The finance and insurance sectors, on the other hand, saw the largest decrease.
