Patrick Center September 9, 2013 | WGVU The West Michigan economy has enjoyed a steady recovery from the great Recession. That was until reaching what Brian Long calls a “plateau.”
Long is director of Supply Management Research in the Seidman College of Business at Grand Valley State University and his August survey of purchasing managers indicates a late summer swoon.
“The fact that we’ve got a statistical slump right here in the month of August is really not an issue for major concern in my opinion.”That’s because the state, national and world economic data is trending positive.But locally, Long discovered through his interviews that managers were feeling relaxed and took some time off in August.
“Unfortunately with our new orders index a lot of business wasn’t placed in the month of August and that reflects in our numbers locally.”
A drop in the employment index was most pronounced reaching its lowest reading since January of 2010. The number should bounce in September.
Long says Consumer Confidence isn’t nearly as strong as it was a few years ago due to the pessimism created by the length of the recession.Still, the bright spot remains in the automotive sector where part suppliers are near peak production. Overall, the survey says, “Most firms are stable and profitable.”
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