Maine exporters may be sleeping poorly these days, but it’s not the humid weather. Global markets have been shaken by the rising risk of a Greek exit from the eurozone and the ongoing rout in Chinese stocks. Meanwhile, Canada’s economy has contracted every month this year, and a growing number of economists say that Maine’s largest trade partner has already stumbled into a recession.
Simply put, people in other countries don’t buy as much Maine stuff when their currencies sink in value. They also don’t buy stuff if they lose their jobs or are worried about losing their jobs.
So far, though, this anxiety has yet to appear in Maine’s trade data with Europe.