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Business and Economy

Personal Spending In Maine Last Year Rose At Fastest Rate In New England

Personal spending in Maine rose last year at the fastest rate in New England. It pushed total personal spending in Maine to just over $60-billion.

The federal Bureau of Economic Analysis says spending in Maine rose a full 5 percent in 2018 over 2017. That was the fastest spending growth in New England. New Hampshire spending grew 4.7 percent; Massachusetts spending grew at the slowest rate, just 4 percent.

The figures show the biggest contributor to Mainers' increased spending was the money spent on health care. In no areas did spending go down. he second-biggest contributor was spending on food services and accommodations. The third biggest contributor was a catch-all category of "other services."