© 2022 MICHIGAN RADIO
91.7 Ann Arbor/Detroit 104.1 Grand Rapids 91.3 Port Huron 89.7 Lansing 91.1 Flint
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

Michigan's economic recovery "broadening"

viewer.png
Comerica Bank
/

A new report claims Michigan’s economic recovery is starting to “broaden” beyond the state’s manufacturing base.

Comerica Bank’s “Michigan Economic Activity Index” follows: non-farm payrolls, exports, sales tax revenues, building permits and other indicators of the state’s economic direction.

And according to those measures, Michigan’s economic activity is at a level not seen since 2002.

Robert Dye is Comerica Bank’s Chief Economist. He says its good news.  But there are other issues to watch closely. 

“We still want to see some growth here before we feel like the state has recovered from a very, very long recession that Michigan has been in,” says Dye, referring to the one state recession that has burdened Michigan’s economy since 2000. 

Dye cautions that weakening economies in Europe and China could hurt Michigan’s recovery.

He adds that the looming “fiscal cliff” of federal budget cuts and tax increases set to take effect at the end of the year could do serious damage to Michigan’s economy.

Steve Carmody has been a reporter for Michigan Radio since 2005. Steve previously worked at public radio and television stations in Florida, Oklahoma and Kentucky, and also has extensive experience in commercial broadcasting.
Related Content