West and Southwest Michigan’s four-month long economic summer swoon has officially ended.
“Our new orders index, which we also call the index of business improvement, returned to a modestly positive number for the first time since June.”
Brian G. Long is Director of Supply Management Research in the Seidman College of Business at Grand Valley State University.
“Probably more importantly, the survey’s index of our long-term business outlook for the next three to five years posted at a seven-year high.”
Long says the November survey spotlights post-election business and consumer confidence and the Federal Reserve’s plan to lower inflation to 2-percent appears to be working.
“So, the Fed watchers call this a soft landing, if they can accomplish this, which so far, the Fed just may have accomplished this time. They have only accomplished this once in the last 75 years. I don't see any recession on the horizon right now, so they may have been successful this time for the first time in what amounts to over 35 years.”
A positive start to 2025, Long will be monitoring global conflicts and president-elect Trump’s threats imposing tariffs on imported goods.
