After months of slumping performance, the West Michigan economy appears to be showing signs of growth again, according to a Grand Valley State University researcher.
Brian Long, director of supply chain management research at the Seidman College of Business, said his annual survey of regional purchasing managers and businesses showed some surprising results.
Several of the survey’s key indices — new orders index, production index and employment index — all trended upward in October, Long said.
“This month's survey of new orders for West Michigan, which is our most closely watched index of business improvement, bounced back in October almost to a break-even point,” Long said. “One month doesn't make a trend, but we can hope that the trend will continue next month.”
And, in the most encouraging sign of the region’s economy, the survey’s employment index rebounded into positive territory.
“In this month's report, we got some good news from our West Michigan index of employment, which bounced back to positive,” Long said. “This implies that the industrial employment situation in West Michigan is now reasonably stable.”
Here’s a look at the key index results from October’s survey of West Michigan businesses:
- New orders index (business improvement): -2 vs. -23 in September
- Production index (output): -9 vs. -28 in September
- Employment index: +3 vs. -11 in September
- Lead times index: -11 vs. -9 in September
More information about the survey and an archive of past surveys are available on the Seidman College of Business website .
