West Michigan Economic Forecast
The West Michigan Economic Forecast is an annual benchmark survey of the West Michigan economy.
The index measurements include points such as Employment, Sales, and Forecast Business Confidence Index.
The Forecast is typically unveiled to the West Michigan Community during a winter event each year.
2024 Forecast Event
On January 31, Seidman students, GVSU faculty and staff, and Grand Rapids community members gathered at The DeVos Place for the "State of Grand Rapids Business" presentation, held during the Grand Rapids Chamber's 136th Annual Meeting. Event highlights are shared in this GVNext article.
Forecast author, Dr. Paul Isely, professor of economics and associate dean of the Seidman College of Business, offered this guidance for 2024: "The data for West Michigan shows a slowdown in employment growth compared to 2023. However, sales are expected to grow a little faster than last year. The primary concern going into 2024 is that, adjusted for inflation, the excess savings for consumers was used up by the end of 2023 and now consumption is increasingly debt driven." For the full forecast, read the Grand Rapids Economic Forecast 2024 report published in the newest edition of the Seidman Business Review.
West Michigan Economic Forecast - Previous Year Highlights
2023 Forecast
On February 1, 2023, Seidman students, GVSU faculty and staff, and Grand Rapids community members gathered at TheDeVos Place for the "State of Grand Rapids Business" presentation, held during the Grand Rapids Chamber's 135thannual meeting.
Dr. Paul Isely and Dr. Kuhelika De presented an update on where
the West Michigan economy currently stands, and an economic forecast
for 2023 which included insights on key economic indicators like
business growth, talent, inflation, housing, innovation, and more.
Read additional event highlights in this GVNext article.
Read the full Grand Rapids Economic Forecast 2023 report as published in the Seidman Business Review Volume XXIX.
2022 Forecast
On February 2, 2022, Seidman students, GVSU faculty and staff, and Grand Rapids community members gathered at the DeVos Place for the "State of Grand Rapids Business" presentation, held during the Grand Rapids Chamber's annual meeting.
Dr. Paul Isely and Dr. Kuhelika De detailed their benchmark survey of the regional economy and predictions for 2022.
Read additional event highlights in this GVNext article.
Read the full Grand Rapids Economic Forecast 2022 article as published in the Seidman Business Review, Volume XXVIII, Winter 2022 edition. .
2021 Forecast
On January 14, 2021, Seidman College of Business and Colliers International | West Michigan partnered together to present the virtual edition of the West Michigan Economic & Commercial Real Estate Forecast.
During recent pandemic events, our community has faced unprecedented times. The virtual event focused heavily on the impacts of the pandemic, providing facts, statistics, and data on our West Michigan market.
Read additional event highlights in this GVNext article.
Read the Grand Rapids Economic Forecast 2021 article as published in the Seidman Business Review, Volume XXVII, Winter 2021 edition.