June 5, 2012
Maine GDP falls in 2011
Maine's gross domestic product fell 0.4% in 2011, making it the only state in New England to see a drop compared with 2010.
Real GDP grew 1.8% in the Northeast and 1.5% across the country, according to the U.S. Bureau of Economic Analysis. Maine's shrinking GDP put it in the lowest quintile nationwide, along with nine other states that saw decreases. The Northeast region's GDP growth was below 2010's rate of 3.4%.
According to the BEA, durable-goods manufacturing was the largest contributor to U.S. GDP growth last year, with a 7.9% increase. Professional, scientific and technical services, as well as information services, also helped drive growth.
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