December State Revenues $5 Million Below Estimates

Updated 1 year ago

Finance officials say Maine state revenues were below estimates in December by $5.2 million as Christmas-season sales did not quite measure up to what was hoped for.But the state’s associate finance commissioner for tax policy, Michael Allen, also says total revenues through the first half of fiscal 2013 are slightly above budget estimates.Allen told the Legislature’s Appropriations Committee on Thursday that Maine continues to work its way through a “challenging economic environment.” Overall consumer purchasing is weak, with the weakest area in building supplies. But Allen says there are also some signs of resurgence, for example in auto sales which are doing better.As for the holiday shopping season, Allen sales weren’t great, but they weren’t as bad as people feared.


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