3 June reports cite Maine’s poor performance

3 June reports cite Maine’s poor performance

June 27, 2006 Posted by Maine Heritage Policy Center - No Comments

By Bill Becker
Any reason that the Maine media is not reporting on any of this information? Multiple papers across the country have been reporting on each of these reports over the past few weeks – but nothing out of the Maine press.
Bureau of Economic Analysis 6/8/06 – Maine’s 04-05 change in real GSP in lowest quintile
Bureau of Economic Analysis 6/22/06 – Maine’s 1st qtr. 06 change in personal income in lowest quintile
Federal Reserve Bank of Boston May/June 06 Report – Maine’s 2005 Economic Performance 2nd worst in nation
Perhaps the quote below appropriately sums up the challenges faced by Maine:
From the Federal Reserve Bank of Boston Report – Introduction, page 5
“Overall Economic Activity
Economic activity was generally positive for the New England states in 2005. By the end of the year, five of six states posted gains in the economic activity index from December 2004. Maine was the only New England state — and the only state in the nation except for Hurricane Katrina victim Louisiana — to see economic activity decline. Two states, Connecticut and New Hampshire, recorded boosts that exceeded the national increase.