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August 25, 2010

Maine consumer confidence remains low, survey finds

By Tux Turkel tturkel@mainetoday.com
Staff Writer

Four out of 10 Mainers say they are worse off than a year ago, and only one in five expect to be better off in the next year, according to the latest consumer confidence survey from Market Decisions in Portland.

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Only 35 percent of residents said now is a good time to make a major purchase, down from 39 percent in April. That compares to the historic low of 21 percent in October of 2008, and the record high of 85 percent in July of 2000.

These responses indicate continued consumer pessimism about the economy, the company said, with no basic improvement over the past 15 months of surveys.

"Consumer perceptions of the economy are frozen in place with no signs of a thaw," said Curtis Mildner, Market Decisions' president.

For more information: www.marketdecisions.com.

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