GRAND RAPIDS ? A new survey says the West Michigan industrial economy continues to grow, albeit at a slower pace, while the national economy remains modestly positive.
This lukewarm economic news came from Brian G. Long, director of Supply Management Research in the Seidman College of Business at Grand Valley State University. Long said the survey results are based on data collected during the last two weeks of July.
The survey?s index of business improvement, called new orders, fell to plus 7 from plus 34 in June. The production index slid to plus 17 from plus 31 in June. The employment index fell to plus 21 from plus 25.
After three strong months, business activity slowed in July, primarily because of seasonal vacations, slower work schedules, and annual shutdowns in some key industries, Long said.
?If it weren?t for the season and the fact that the statistics for the rest of the state, country and world are still on track, we could raise a question about the future,? Long said. ?However, one month never makes a trend, and the slightly slower numbers in our local report are probably nothing more than a summer hesitation.?
The Institute for Supply Management survey is a monthly survey of business conditions that includes 45 purchasing managers in the greater Grand Rapids area and 25 in Kalamazoo. The respondents are from the region?s major industrial manufacturers, distributors and industrial service organizations. It is patterned after a nationwide survey conducted by the Institute for Supply Management. Each month, the respondents are asked to rate eight factors as ?same,? ?up? or ?down.?
