From the SMN today, Local economy still growing, but slowly:
â€œThe regional economy is currently being supported by healthy tourism activity, strong ports activity and the improving health of the services sector, including business and professional services and transportation,â€ [Armstrong Economics Professor and Director of the AASU Center for Regional Analysis Michael Toma] said.
On the flip side, electricity sales fell along with retail sales.
The disappointing electricity numbers â€” which are adjusted for seasonal temperatures â€” mean the commercial and manufacturing demand for electricity fell off in the quarter, Toma said.
The retail sales drop is reflective of stubbornly high unemployment, the state of the economy and consumersâ€™ growing lack of faith in the federal government to do anything about it, he said.
There is much more in the piece.
To see the latest version of the Economic Monitor (for the 2nd quarter) for yourself, go here.