West Michigan economic growth rate improving

KALAMAZOO (WTVB) – The West Michigan economy shows an improved growth rate. So says Regional Economist Dr. Brian Long, as his monthly survey of purchasing managers indicated a doubling of the new orders index, nearly a doubling of the production and purchasing indices, and the employment index up a third. Long says once new orders are placed, they start hiring more people, they start buying more equipment, they begin buying more supplies, and yet the financial transaction might not show up for weeks or even months, so according to Long, this is very much a leading edge type of indicator for our local industrial marketplace. Dr. Long’s short-term business outlook index bounced to +32 from +18 in February, while the long-term outlook rose from +41 to +46.