West and Southwest Michigan economic growth remain slow, but steady.
“I’m happy to report that our numbers are still positive.”
Brian G. Long is director of Supply Management Research in the Seidman College of Business at Grand Valley State University.
New orders, production and employment remain in positive territory. However, January report adds, “significant personnel shortages are in hospitality and service industries.”
So, yes, positive data for most area businesses and manufacturers, but…
“They are of course restrained by all the problems with the supply chain that we are having right now as well as all of the things that are happening in the world that dampen our enthusiasm to a certain degree.”
Inflation, the Federal Reserve’s plan to raise interest rates attempting to contain rising inflation, and the situation in Ukraine are all weighing on the national and local economies.