The greater Grand Rapids industrial economy experienced accelerated
growth, according to the results of a monthly survey compiled by Brian
G. Long, director of Supply Management Research in the Seidman College
of Business at Grand Valley State University.
The survey results are based on data collected in the last two
weeks of February. The survey’s index of business improvement, called
new orders, advanced to +45, up from +25. In a similar move, the
production index rose to +41 from +29. The index of purchases edged up
to +33, from +29. The employment index rose to +35, up from +29.
Long said the recovery of the office furniture industry is part
of the strong report for this month. He said auto sales are still on
track and even expanding and that business conditions for auto parts
producers remain positive. At the national level, Long said the
recovery continues at a moderate pace and that the industrial sector
is leading the nation out of the recession. Long predicted the month
of March will build on this success.
The Institute for Supply Management survey is a monthly survey
of business conditions that includes 45 purchasing managers in the
greater Grand Rapids area and 25 in Kalamazoo. The respondents are
purchasing managers from the region’s major industrial manufacturers,
distributors, and industrial service organizations. It is patterned
after a nationwide survey conducted by the Institute for Supply
Management. Each month, the respondents are asked to rate eight
factors as “same,” “up” or “down.” An expanded version of this report
and details of the methodology used to compile it are available at www.gvsu.edu/scblogistics.
DOWNLOADABLE AUDIO
Brian Long said while employment numbers are up, it will take a while before it's felt in West Michigan (audio).
Long said the office furniture industry is leading the strong report and that the auto industry has really taken off (audio).
Long said the housing market continues to be a "wet
blanket" (audio).
