KALAMAZOO, MI (WKZO AM/FM) – The West Michigan economy remains stable, but according to a noted local economist there are signs that the usual pent-up demand similar to most postwar recessions, is beginning to fade.
Dr. Brian Long, Director of Supply Chain Management Research at Grand Valley State University, says numbers for January in West Michigan are still positive and relatively stable. In the latest survey of area manufacturers and businesses, Long says participants continue to complain about supply shortages, rising prices, logistics bottlenecks, chip shortages, personnel shortages, and other headwind factors that inhibit the normal mode of business operations.
According to Long, “the proverbial elephant in the room remains the tense situation on the Ukrainian border. If a serious war breaks out, all bets are off. Domestically, the greatest economic threat remain inflation. The reports for the next two or three reports may rise to a rate of eight percent or so, and then begin a gradual decline for the rest of the year. ”
Long’s monthly “Current Business Trends” newsletter is out this week.
Note: Long’s monthly interview on “WHTC Morning News” about his report will air on Monday around 8:40 AM on 99 7/1450 WHTC & whtc.com, with the podcast and a related ZOOM video available at whtc.com around 8:45 AM.
