AUGUSTA — A Maine advisory panel is getting a less-than-rosy report on the state’s economic prospects.
The Consensus Economic Forecasting Commission, which prepares economic forecasts for the governor and Legislature, heard today from major participants in the state’s economy, including bankers, builders, tourism representatives and real estate brokers. None had very glowing news for the forecasters, whose reports help shape the state budget.
The Maine industry representatives presented their outlooks amid a dreary national backdrop of weak consumer spending, an anemic housing market and prospects of lower government spending.
Maine bankers say their industry is financially strong but clouded by real estate foreclosures. Associated Builders and Contractors President James Cote says the backlog of jobs is seriously down and the outlook within his industry pessimistic.
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