AUGUSTA (AP) — 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, a finance official told lawmakers on Thursday.
But the state’s associate finance commissioner for tax policy, Michael Allen, also told the Appropriations Committee that total revenues through the first half of fiscal 2013 were slightly above budget estimates. The figures show revenues $600,000 ahead of projections for the $3 billion annual state budget.
Saying that Maine continues to work its way through a “challenging economic environment,” Allen said overall consumer purchasing is lackluster, with the weakest area in building supplies. But Allen said there are also some signs of resurgence, for example in auto sales, which are doing better.
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