West Michigan's December economic survey ends 2020 on an upswing
The December Supply Management Research survey indicates the West Michigan ended 2020 on a high note.
“I did not expect a positive ending to the year.”
Brian G. Long, director of Supply Management Research in Grand Valley State University's Seidman College of Business.
“The positive ending came about because of the enthusiasm for the shipment of the anti-virus vaccine that we are receiving.”
A psychological boost. Structurally, purchasing managers surveyed in December also point to health safety and protective measures taken in the workplace supporting operations.
“Most of the industrial firms have figured out how to social distance, keep things clean and require masks in some instances. And as a result, our projection has resumed to near-normal levels now at a lot of our firms.”
Still, there are bottlenecks in the supply chain and Long explains that won’t go away until widespread vaccination reaches heard immunity.
As for the impacts of the incoming Biden Administration should continue policies supporting the economic recovery.