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Growth in Michigan expected to slow down
DETROIT, Michigan's sluggish economic recovery is likely to slow down this year, an economist at Comerica Bank said.
Chief economist Dana Johnson said Michigan would likely experience a "lackluster recovery," the Detroit Free Press reported Monday.
Although the state's recovery has been slow and steady, "Michigan is not going to outperform the national economy," Johnson said.
Michigan's unemployment rate has dropped from 15.3 percent in September 2009 to 13.2 percent. Manufacturing has picked up and automakers are adding workers in contrast to the past two years when tens of thousands lost their jobs.
A survey of 350 manufacturers in southeast Michigan found indexes for new orders and production had improved lately, but the growth rate is expected to slow, said Timothy Butler, a Wayne State University School of Business Administration associate professor.
"There's reason for optimism, but the rate of growth for southeast Michigan may not continue as strongly as it has for the past couple of months," he said.
DETROIT, Michigan's sluggish economic recovery is likely to slow down this year, an economist at Comerica Bank said.
Chief economist Dana Johnson said Michigan would likely experience a "lackluster recovery," the Detroit Free Press reported Monday.
Although the state's recovery has been slow and steady, "Michigan is not going to outperform the national economy," Johnson said.
Michigan's unemployment rate has dropped from 15.3 percent in September 2009 to 13.2 percent. Manufacturing has picked up and automakers are adding workers in contrast to the past two years when tens of thousands lost their jobs.
A survey of 350 manufacturers in southeast Michigan found indexes for new orders and production had improved lately, but the growth rate is expected to slow, said Timothy Butler, a Wayne State University School of Business Administration associate professor.
"There's reason for optimism, but the rate of growth for southeast Michigan may not continue as strongly as it has for the past couple of months," he said.
