GVSU economist: Continued growth in West Michigan

"Still rising" is the phrase from a Grand Valley State University economist who said the West Michigan economy continues to grow.

Brian G. Long, director of Supply Management Research in the Seidman College of Business, surveyed local business leaders and his findings are based on data collected during the last two weeks of April. 

View full report here.

The survey's index of business improvement (new orders) backtracked to +7, down from +15. By contrast, the production index rose to a three-month high of +20, up from +16. The index of purchases rose sharply to +14, up from +3. The employment index fell slightly to +11, from +14. 

"Near-record auto sales are still keeping the local auto parts suppliers operating at full capacity, even though a couple of firms are reporting a slight hesitation," said Long. "The office furniture business remains stable, and the spring season has resulted in significant improvements for some firms. Just like last month, our industrial distributors were generally positive, while capital equipment firms continue to report widely mixed results." 

Long said the local employment picture is the best it has been since the recovery began seven years ago. He said the local business sentiment continues to be positive for both the short-term and long-term outlook. "Given the pessimistic numbers we reported six months ago, the current mood is much more confident," he said. 

The Institute for Supply Management 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 from the region's major industrial manufacturers, distributors and industrial service organizations. It is patterned after a nationwide survey conducted 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 can be found in the dropbox link provided above under media note.

For more information, contact Brian Long at (269) 323-2359.

DOWNLOADABLE AUDIO

Long said said the local economy should remain strong through the summer (audio).

Long said local unemployment numbers look good (audio).

Long said the employment picture is the best it has been since the recovery began seven years ago (audio).

Long said the threat of a recession is being stirred by negative comments about coal, mining and oil production (audio).