The West Michigan economy continues its growth but at a slower pace. WGVU takes a look at the numbers from October’s Supply Management Research survey.
In September, the Seidman College of Business Supply Management Research survey employment index turned negative for the first time in nearly six years.
As October comes to a close there’s a sigh of relief.
“Since it flipped back to positive this month we can say that employment will probably continue to grow at the slower rate that we’ve had for the last several months.”
That’s Brian G. Long, director of Supply Management Research. He suggests that while the West Michigan economy may be what he calls “flattening”, it’s doing modestly better than the national economy.
“We are seeing automobile sales at or near record highs depending on which statistics you look at and office furniture approaching an all-time high. Aerospace is very positive because of large sales at Boeing and our other major aerospace companies on the West Coast.”
Long explains in his monthly report there is “one weak spot that may be emerging is the capital equipment industry, where foreign competitors are discounting prices because of the softer sales in China and Western Europe.”
