West Michigan economy falls back to steady pattern in May
Brian Long Photo Credit GVSU
Patrick Center June 9, 2014 | WGVU Tracking West Michigan’s economy from Grand Rapids to Kalamazoo is what economist Brian Long does at Grand Valley’s Seidman College of Business. He’s the eyes and ears behind the Supply Management Research monthly survey.
“There is no sign that we are about to slip into any kind of a flat period or even worse a recession.”
Nothing terrifying or terrific…just more slow growth that Long says is going to be the trend through the end of the year and into 2015. He points out all sectors are performing well from auto part suppliers, to office furniture makers and smaller local firms.
The positives are also discovered in low unemployment where Kent and Ottawa Counties rank 2nd and 3rd in the state with Kalamazoo coming in 5th. That’s out of 83 counties.
“Some newfound optimism on the part of some business people that say, ‘Well, it appears as though after five years or so that the recovery is still with us, that we are still growing and hints it’s time to reinvest, not only in equipment, but also people.’”
However, it’s a minimum wage increase Long expects will slow hiring in some industries.
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