Moderate economic growth forecast in Michigan

May 16, 2012

A UM economic forecaster is predicting moderate economic growth for the state until 2014.

The Detroit Free Press reports that George Fulton, director of the Research Center on Quantitative Economics at the University of Michigan, gave the forecast at today's revenue estimating conference at the state Capitol.

From the Freep:

Private sector job growth will continue in 2013 and 2014 but at a more moderate pace than the rapid growth seen in 2011 and the early part of 2012, Fulton said.

"We see a sustained but moderately paced recovery from now until 2014," he said.

The revenue estimating conference is part of finalizing the state's 2013 budget.

Officials try to reach consensus on how much revenue the state can expect in the coming years.

MPRN's Rick Pluta is covering the conference and will have more for us later.