Category Archives: Economy

Gas and oil may be cheap, but Mainers still spent gobs on them

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While gasoline prices have dipped to surprising lows, oil-heavy Maine households still spent more on it and other energy commodities than almost every other state. Maine had the third-highest per-capita cost for gasoline and other energy goods, not including utilities like electricity or piped natural gas. It was behind the other small and cold states of North Dakota and Wyoming for those […]

One number that gives Maine’s paper industry hope


The paper industry ain’t what it used to be, but a recent survey of paper producers found new investment last year hit the highest point since 2003, at $173 million this year. That figure — about double the investment from 2013 — is a bright spot for an industry that has needed investment to upgrade machinery and become more efficient […]

Is there a bridge that needs work in your town?

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Data from the Maine Department of Transportation presented in a report Wednesday by the industry group TRIP, or The Road Information Program, showed that 15 percent of the state’s bridges have some structural deficiency. The group and the state DOT are drawing attention to the figures in advance of a bond question on the Nov. 3 ballot whether the state […]

Are you $700 richer this year? Gas price report says you should be


On Sunday, the average gallon of gas in Maine cost $2.27, down $1.17 from one year ago. The surprise global drop in crude oil prices has broad implications internationally and raises specific challenges for domestic gas and oil producers, but a new report gives a sense of the average benefit for the approximately 506,191 Maine households with cars (according to the latest census survey, […]

Car-related sales help drive Maine’s recovery

Pat and Steve Kotyk (from left) of Eddintgon watch as mechanic Jim Giguere makes a minor repiar to their car Friday at Main Street Garage in Bangor. Accoridng to Mike Giguere, Jim's father and owner of the garage, the economic downturn has meant "less sales, more repairs" at the business, which sells and services used cars. (BANGOR DAILY NEWS PHOTO BY KATE COLLINS)

It appears we love our vehicles, or that an improving economy has made Mainers feel a little better about investing in their rides. For all but seven months from 2010 to 2015, automobile-related sales have grown after taking a dive with every other type of spending during the recession. That category of spending has consistently growth faster through Maine’s […]

Doing continues to supplant making in Maine


There are plenty of individual makers in Maine, but a new data set from the Bureau of Economic Analysis shows continued gains for service industries as growth in industries like manufacturing and construction lag behind. The new data set (its methods still being refined) shows inflation-adjusted GDP (in 2009 dollars) by industry for the states as recently as two quarters […]

Maine-based companies got dinged, too, in Monday’s market correction

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Maine has few publicly traded companies, but the stock prices of those headquartered here and those with major ties to the state did get dinged in the market-wide correction Monday. By the market’s close, the S&P 500 index was down 3.94 percent and the Dow Jones industrial average was down 3.57 percent, after early-morning panic that saw some […]

Does a weak loonie put a dent in Canadian tourism to Maine?

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The Canadian dollar is at its weakest since December 2005. But the loonie’s current slump, to about 77 cents to the U.S. dollar Wednesday, comes at an unusual time of year: the peak season for Canadian tourism to Maine. That has some in the hospitality industry concerned that Canadian tourists will forego trips or curtail spending on their vacations, as the Canadian dollar […]