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Grand Rapids Economy Projected To Grow In 2013

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West Michigan is expected to see overall economic growth in 2013.

The growth is projected to be lead by the manufacturing and service industries.

Not all industries are expected to experience growth.

Construction and office furniture production are expected to be flat in 2013.

Mlive.com has more info on what to expect in 2013:

Economist George Erickcek is forecasting continued growth for the greater Grand Rapids area in the annual forecast he prepared for the Right Place 2013 Economic Outlook for West Michigan.

The region’s employment base will grow by 1.2 percent in 2013 and by another 1.6 percent in 2014, said Erickcek, senior regional analyst with the Upjohn Institute of Kalamazoo.

Manufacturing and service jobs will once again be the leading sectors, Erickcek said. Goods producing jobs, which include manufacturing, will grow by 1.1 percent while service providing jobs will grow by 1.5 percent, he said.

Erickcek said he also expects to see strong growth in the service sector, led by healthcare.

Healthcare will continue to be a growth sector outside of hospitals, Erickcek said. “We’re still seeing employment growth in healthcare, we’re just being treated more and more out of the hospital,” he said.

While office furniture production will remain flat, Erickcek said the region’s auto part suppliers and food processors will continue to show employment growth.

Government employment, which fell by 2.4 percent this year, will fall by 0.9 percent in 2013, Erickcek said. Construction activity will be flat despite continued low interest rates, he said.

Are you confident in where West Michigan is heading economically?

 

 

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