DETROIT - Michigan’s economy is anticipated to grow by 1.8 percent in 2024, above last year’s growth, but slightly below the national economy’s, according to Comerica Bank's mid-year report. High interest rates and consumer prices continue to weigh on the Great Lake State’s economy, as do negative spillovers from national and global headwinds. But the
GRAND RAPIDS - A survey of West Michigan businesses and managers conducted by a Grand Valley researcher shows a promising trend of modest economic growth for the region’s economy. Key metrics in the monthly survey conducted by Brian Long, director of supply management research at the Seidman College of Business, ticked upward for the third
DETROIT – The Comerica Michigan Economic Activity Index jumped 7.9 percent annualized in the three months through May. The Index was still down 0.3 percent from a year earlier after declining in the second half of 2022. Six of the index’s nine components increased in April, while three fell. Overall, the Great Lake State’s labor
DETROIT – Business Leaders for Michigan released a holistic economic development framework today that calls for broad thinking and strategic actions to bring prosperity to the state. While bipartisan work has resulted in economic progress since the Great Recession, moving Michigan from the bottom nationally to average today, getting to the top will be harder.
DETROIT – A quarterly economic survey released by Business Leaders for Michigan shows the state’s top executives have confidence in their Michigan operations and high demand for qualified talent, even with potentially softening economic conditions. Michigan business leaders’ concerns over filling jobs has remained overwhelmingly high at 78%, with 81% of respondents citing a lack
Image by David Greenwood-Haigh from Pixabay The last decade has seen a massive explosion in the craft beer industry, with statistics showing that the industry injects over $300 billion into the economy. While all states have experienced some level of growth in the craft beer industry, some states have experienced growth at a much larger scale than others.
DETROIT – Concerns about labor shortages and inflation are weighing on the minds of Michigan’s business leaders, according to a quarterly economic survey released today by Business Leaders for Michigan. Labor shortages are being felt across all job categories, including in manufacturing, office and front-line positions, with 85 percent of survey respondents expecting to have trouble
LANSING - Michigan’s economy, under the leadership of Gov. Gretchen Whitmer, is ranked No. 1 among 37 other states with a population greater than 2 million since the COVID-19 pandemic began two years ago, according to a newly-released opinion piece by Bloomberg. “Whitmer today presides over an economy that improved the most in its history since
DETROIT— Business Leaders for Michigan released its updated benchmarking report comparing Michigan’s performance against the Top 10 states. While the state has made significant gains since the Great Recession, moving from 49th to 29th, the metrics show that Michigan is struggling to grow faster than other states. Michigan has progressed over the last decade, but needs strategic improvements to become competitive “Michigan is much better off and has come a
DETROIT—Comerica Michigan Economic Activity Index increased in May to a level of 106.7, 24.4 percent higher than the all-time low of 85.8 reached in June 2020, at the bottom of the coronavirus recession. The index averaged 100 points for all of 2020, 9 points below the index average for 2019. The index is comprised of
