Study: Maine 2nd highest in average personal income growth
PORTLAND, Maine (AP) — A new study says Maine had the second highest average increase in personal income in the country over the last year at 4.6 percent.
The Portland Press Herald reports (http://bit.ly/2cm0iBa ) the Pew Charitable Trusts study says the state’s personal income growth followed only New Hampshire, which had an average increase of 5.4 percent.
The average yearly increase had been 1 percent in Maine from the end of 2007 to the beginning of 2016.
Maine’s state economist says a mild winter earlier this year kept heating bills low and allowed people to have more disposable income. Low inflation also contributed to the economy.
Experts say Maine will have to — among other things — attract people to the state to continue seeing personal income growth.
Information from: Portland Press Herald, http://www.pressherald.com