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Expert: Economy Swings Upward In ‘yo-yo-like’ Pattern

Expert: Economy swings upward in ‘yo-yo-like’ pattern

Expert: Economy swings upward in ‘yo-yo-like’ pattern

GRAND RAPIDS, Mich. (WOOD) — An economist with Grand Valley State University’s Seidman College of Business says May showed good economic markers compared to April. The economy in West Michigan has been in a month-to-month yo-yo pattern of uncertainty but May showed reason for optimism, according to Brian Long, director of supply management research for the Seidman College of Business at Grand Valley State University. He said areas like sales, output, employment and purchases at West Michigan businesses saw upticks from April numbers. “Since we instituted this survey many years ago we’ve seen our numbers bounce around, and this month our bounce was to the upside,” Long said in a Wednesday release. “Our index of new orders came in much stronger than expected. But of course, one month does not make a trend. So when we add up June at the end of the month, the numbers we get may be a little bit less robust.” Long said based on indicators from office furniture makers and automotive parts suppliers, he believes West Michigan will be “well positioned” to pick up new businesses. “The problem is, of course, reshoring in the industrial market takes time to identify and qualify new sources so it won’t happen overnight,” he said in the release. To view the full May report and other previous ones, visit Grand Valley State University’s website .

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Daisie Hobson

Daisie Hobson is a Director at the Reshoring Institute and an engineer with many years of experience in manufacturing and project management.

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