West Michigan’s economy returned to double-digit growth in February. That’s the word from the latest Supply Management Research survey. WGVU breaks down the number and the impacts of a post-election rally.
Found within the Supply Management Research survey is the Small Business Optimism Index and it indicates there’s been a positive reaction to President Donald Trump.
“It had a record jump from the time that that survey started over 30 years ago right after the election.” That’s Brian G. Long, director of Supply Management Research in the Seidman College of Business at Grand Valley State University. “And the report that just came out said we came out a little bit higher this next reporting period, but it clearly indicates that small business has regarded this election as extremely positive.”
The U.S. Stock Market rising roughly 17 percent since voters cast their ballots. Local businesses have seen new orders on the rise reaching a three-year high. “And when that new business comes in they begin to look at hiring more people, buying new equipment, adding more supplies, so we have a little bit of a forward look at what’s going on.”
As new order increase Long says it will likely affect an already positive unemployment rate. “We should see some improvement in our unemployment rate which is already quite good by historical standards but it also means that we should see some firms considering expansion.”
Patrick Center, WGVU News.