Michigan's economy stumbled in October
Michigan’s economy stumbled in October.
Comerica Bank’s monthly gauge of Michigan’s economic activity shows a slight dip in October. The state’s economy spiked up in September.
Comerica Bank chief economist Dana Johnson says Michigan’s economy has essentially been flat for the past four months. Johnson says:
As has been the case in the national economy over the second half of the year, growth in Michigan has been sluggish and uneven. Looking ahead, the Michigan economy is poised to make modest gains in coming months, against a background of gradually accelerating national growth.
The Michigan Economic Activity Index weighs nine, seasonally-adjusted indicators of real economic activity.
These indicators reflect activity in the construction, manufacturing and service sectors as well as job growth and consumer outlays.