The West Michigan economy grew for the third consecutive month, according to data collected by a GVSU researcher.
Brian Long, director of supply chain management research at GVSU’s Seidman College of Business, said his monthly survey of the region’s purchasing managers reflected steady optimism about the West Michigan economic landscape.
“Our statistics from our West Michigan Industrial Market survey came in positive, but the mood among survey respondents remains cautious and, to a certain extent, chaotic,” Long said.
Several of Long’s key metrics remained positive in April: the new orders (business improvement) index; the production (output) index and the employment index.
However, uncertainty regarding federal tariffs and the ongoing conflict with Iran are creating unease and caution among respondents, Long said. Oil prices have risen considerably since the conflict began and Iran moved to close the Strait of Hormuz.
Long said higher oil prices have broad economic implications that extend well beyond fuel costs.
“In the broadest sense, the price of oil is reflected in the price of almost everything that we buy,” Long said. “Even a loaf of bread has to be delivered by a truck that probably burns diesel, and the farmer that grew the grain for that bread probably has a diesel or gasoline tractor.”
Here’s a look at the key index results from April’s survey of West Michigan purchasing managers:
- New orders index (business improvement): +15 vs. +26 in March
- Production index (output): +22 vs. +16 in March
- Employment index: +13 vs. 0 in March
- Lead times index: +22 vs. +7 in March
More information about the survey and an archive of past surveys are available on the Seidman College of Business website .
