Friday, November 16, 2012

Michigan economic performance 2013-2014

World Economic outlook - Michigan economic performance 2013-2014 : Michigan’s economy will continue along its path of moderate growth during the next two years, as the state’s economy creates 111,000 new jobs, University of Michigan economists are predicting.

George Fulton, U-M economist and a leading authority on the state economy, said both the auto and housing sector will lead the state economic recovery. Michigan’s economic performance also is more closely tied to the national economy than in the past, he added during the U-M’s 60th annual Economic Outlook Conference.

“For many reasons, it’s not hard to feel upbeat about the Michigan economy,” Fulton said.

“Our signature auto sector has been strong, housing is showing signs of turning around, the highest wage sectors have recorded the most rapid growth and the unemployment rate has dropped by 5 percentage points since the end of 2009.”

The U-M economists expect the state economy to add 50,000 jobs in 2013 and another 61,000 during 2014.

“Most important the fundamentals seem in place to keep expanding,” Fulton said.

Fulton, however, also said it wasn’t hard to feel some disappointment in the state’s current path.

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