GRAND RAPIDS, Mich. — The greater Grand Rapids economy's pace of
modest growth continues, according to the results of monthly a survey
compiled by Brian G. Long, director of Supply Management Research in
the Seidman College of Business at Grand Valley State
University.
The survey results are based on data collected in the last two
weeks of February. The new orders index, which tracks business
improvement, eased to +6, down from last month's +14. In a similar
move, the production index backtracked to +8 from +22. The index of
purchases remained positive but came in at +14, down slightly from
last month's +17. The best news for the month came from the employment
index, which jumped to +9 from +0. [Listen to audio clips below]
"All in all, the pace of the recovery continues to
slow," Long said. "Although there is no evidence at this
time to suggest any fundamental new problems, the recovery will
probably continue to be restrained."
Long noted that it was a rough month for auto firms that supply
Toyota, but the remainder of the area's auto parts suppliers filed
positive reports. Conditions were seasonally weaker for several of
our capital equipment firms, and the slight dip for the office
furniture business has extended into a second month.
The Institute for Supply Management, Greater Grand Rapids survey
is a monthly survey of business conditions that includes 45 purchasing
managers in the Greater Grand Rapids area and 25 in Kalamazoo. The
respondents are purchasing managers from the region's major industrial
manufacturers, distributors, and industrial service organizations. It
is patterned after a nationwide survey conduced by the Institute for
Supply Management. Each month, the respondents are asked to rate eight
factors as "same," "up" or "down." An
expanded version of this report and details of the methodology used to
compile it are available at www.gvsu.edu/scblogistics.
MEDIA: Call Brian J. Bowe at (616) 331-2221 or e-mail
[email protected] to arrange interviews with Long.
Audio Clips
- Long says office furniture industry is still struggling and doesn't show signs of bouncing back just yet [audio]
- Long says Toyota has bounced back and other auto parts dealers are doing better [audio]
- Long says we should continue to see slow growth in the coming months [audio]
- Long says real estate is expected to do better next month because of incentives like low interest rates [audio]
