ANN ARBOR - Michigan consumers could be facing another round of economic pain as major oil companies and commodity traders warn that global petroleum inventories are falling to unusually low levels, raising concerns that crude oil prices could surge to $150 per barrel or higher if another major supply disruption occurs. For Michigan residents, the
WASHINGTON DC - New federal economic data released Thursday delivered a troubling combination for the U.S. economy — and potentially for Michigan as well. Key Economic Numbers Released Thursday Inflation rose to 3.8% in April, up from 3.3% in March Consumer spending growth slowed sharply to 0.2% First-quarter U.S. GDP was revised down to 1.6%
Part 2 of a series on how huge increases in gas prices are impacting Michigan's economy and politics. ANN ARBOR = As gasoline prices climb toward $5 per gallon across parts of Michigan, economists and political analysts are beginning to examine whether the growing global oil shock could eventually reshape the state’s 2026 midterm elections.
ANN ARBOR - Michigan’s economy could face mounting pressure later this summer as rising oil prices tied to the growing Middle East conflict begin spreading through the state’s three largest economic pillars — the auto industry, tourism and agriculture. Economists warn the full impact of the global energy shock may not hit consumers and businesses
ANN ARBOR - Consumer sentiment has remained largely unchanged for more than a year at very favorable levels, according to the University of Michigan Surveys of Consumers. The January Sentiment figure was just 0.2 Index-points below December's, and just 1.1 points below the 2017 average of 96.8—which was the highest yearly average since 2000, said
ANN ARBOR - Consumer sentiment continued to slowly fall in the July survey, although the overall level still remains quite favorable, according to the University of Michigan Surveys of Consumers. The small decline amounted to 5.1 Index-points below the January peak, which was the highest figure in a dozen years, said economist Richard Curtin, director
ANN ARBOR - Consumer sentiment in April continued to travel on the high plateau established following Donald Trump's election, with only minor deviations from its five-month average of 97.4, according to the University of Michigan Surveys of Consumers. There is widespread agreement among consumers on their very positive assessments of the current state of the
LANSING - Michael Rogers, vice president communications for the Small Business Association of Michigan, talks with Michigan State University economist Charles Ballard about the latest State of the State survey. The survey finds that Michigan residents are remaining confident about the economy with better than half of them calling their current circumstances excellent or good
ANN ARBOR - The University of Michigan added more mixed economic news on Friday when it released its Surveys of Consumers that showed, despite small monthly variations, the overall level of consumer confidence has remained largely unchanged over the past three quarters. This stability has resulted from increased optimism about personal finances being offset by expectations of
