West Michigan economy continues to grow in June

Jul 10, 2017

Brian G. Long, Director Supply Management Research in the Seidman College of Business at Grand Valley State University.
Credit gvsu.edu

West Michigan’s economy continued its steady growth into June. WGVU breaks down the data points highlighted in the most recent Supply Management Research survey.

What continues to be the strength of the Supply Management Research survey is the regions low unemployment.

“We are fortunate for the west side of the state to claim the lowest unemployment rate, not only in the state, but to a certain extent for many regions as far as the whole nation is concerned.” Brian G. Long is director of Supply Management Research in the Seidman College of Business at Grand Valley State University. He tells while Michigan’s unemployment rate checks in at 4.2 percent, Ottawa County’s 2.6 is the lowest in state and tied for third at 2.8 percent is Kent County.

While hiring and sales remain steady among major firms, there are signs of plateauing for local auto parts suppliers as auto sales slow. “Most auto parts suppliers say they are simply topping out at the present level and some are even saying that they’ve gotten some additional inquiries particularly from the transplant companies; Honda, Toyota, Hyundai and all the foreign brand names that we see marketed and built in the United States.”

Long also explained, “the office furniture industry continues to show signs of topping out, but no decline appears to be on the horizon.”

Patrick Center, WGVU News.